News
News Center
A member of the National Committee of the Chinese People's Political Consultative Conference has proposed moderately opening up diversified investments in areas such as stem cells and gene technology, aiming to strengthen and expand the bioeconomy.
2022-03-08
The 2022 National Two Sessions are set to convene soon, and Lü Hongbing, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and Vice President of the All China Lawyers Association, said in an interview with Caixin that, To accelerate the development of China's biopharmaceutical industry, it is recommended that, on one hand, we moderately open up diversified investment in areas such as stem cells, gene diagnostics, and therapeutic technology development and application. On the other hand, we should refine and optimize the national centralized procurement policies, while giving special attention and support to companies independently developing innovative drugs—particularly those in the biopharmaceutical sector.
"Breaking the Impasse" for Innovative Drug Development
Lü Hongbing noted that since the State Council released the "Pilot Plan for National Centralized Drug Procurement and Use" in 2019, the implementation of this policy has significantly alleviated the challenges patients face in accessing medications—specifically, the difficulties and high costs associated with obtaining needed drugs. Meanwhile, as videos showcasing the dramatic price cuts achieved through centralized procurement have gone viral, stakeholders across various sectors have gained a clearer understanding of just how substantial and impactful these price reductions truly are.
Lü Hongbing stated that relevant centralized procurement policies could be refined and optimized to provide enterprises with special attention and support for independently developed innovative drugs, particularly in the biopharmaceutical sector.
Lü Hongbing suggests that more detailed "implementation rules" could be developed for centralized procurement policies, designed to fully protect and promote China's independently innovative pharmaceutical research and development. For instance, companies developing cutting-edge, breakthrough drugs—particularly in the biopharmaceutical sector—could be granted an extended grace period, allowing them to decide autonomously whether to enter the centralized procurement catalog and how much price flexibility they have once included. This approach would encourage greater investment in innovative drug development across the market and attract global scientific talent to China’s leading pharmaceutical innovation firms.
Focusing on investments in the biotechnology sector
According to China's 14th Five-Year Plan and the Visionary Outline for 2035, "focusing on key areas such as next-generation information technology, biotechnology, new energy, and new materials" provides a crucial opportunity to foster and strengthen new drivers of industrial growth.
Lü Hongbing stated that this means we need to accelerate the development of industries such as biopharmaceuticals, bio-breeding, biomaterials, and bioenergy, thereby scaling up and strengthening the bioeconomy. He also suggested moderately opening up diversified investment in areas like stem cells, gene diagnostics, and the development and application of therapeutic technologies.
Previously, experts in the biopharmaceutical field have already analyzed that, as living standards improve, an aging society is leading to a surge in cancer cases and a higher incidence of degenerative diseases. Investment in stem cells and gene technology R&D is critical to the cost of disease treatment, accessibility to medicines, and will significantly influence our country's competitiveness and competitive edge in the global biopharmaceutical sector.
Lü Hongbing believes that, Moderately opening up the field of stem cells and gene technology to international capital investment will significantly accelerate China's research and development efforts in this area.
Lü Hongbing also suggested in the proposal that, We can fully leverage legislative resources authorized by national laws, such as the "Pudong New Area Regulations" and the "Hainan Free Trade Port Regulations," to establish a "Special Zone for Stem Cell, Gene Diagnosis, and Therapeutic Technology Development and Application." This zone will feature comprehensive systems, policies, and guidelines, while also opening up investment opportunities in this field to a diverse range of investors, including foreign capital.
Reprint Notice: This article is reprinted from Caixin Global. If there are any issues, please contact us for removal.
Related News
Here is the title—h1 placeholder text
Copyright © Jiuzhitang Maker (Beijing) Cell Technology Co., Ltd.
Powered by: 300.cn SEO | Privacy Policy