Nine Pharmaceutical Executives Elected as Council Members of China Center for International Economic Exchanges, Highlighting National Focus on Biopharma Innovation

Economic Observer Network, Reporter Yixian QuOn April 7, the China Pharmaceutical Innovation and Promotion Association announced that at a recent meeting of the China Center for International Economic Exchanges (hereinafter referred to as "CCIEE"), Bi Jingquan, member of the 14th National Committee of the Chinese People's Political Consultative Conference and deputy director of the Economic Committee, was elected as the chairman of the third board of directors of CCIEE. Song Ruilin, executive president of the China Pharmaceutical Innovation and Promotion Association (hereinafter referred to as "Pharma Promotion Association"), along with nine senior executives from pharmaceutical companies, were elected as members of the third board of directors of CCIEE for the first time.

These nine pharmaceutical executives, all representatives of the China Pharmaceutical Innovation and Research Development Association (PIRDA), are: Sun Piaoyang, Chairman of Hengrui Pharma (600276.SH); Li Yan, President of Qilu Pharmaceutical; Wen Deyong, CEO of Fosun Pharma (600196.SH/02196.HK); Yang Dajun, Chairman of Ascentage Pharma (06855.HK); Xiong Jun, Chairman of Junshi Biosciences (688180.SH/01877.HK); Ge Junyou, CEO of Kelun-Biotech (06990.HK); Qi Yan, Senior Vice President of BeiGene (688235.SH/06160.HK/BGNE.US); Zhang Qian, Chief Talent Officer of Innovent Biologics (01801.HK); and Zhang Xiaoli, General Manager of Government Affairs at Shanghai Pharmaceuticals (601607.SH/02607.HK).

Apart from Qilu Pharmaceutical, the other eight pharmaceutical executives are from publicly listed companies; most of the nine enterprises are innovative pharmaceutical companies, while some are traditional large manufacturers with mature commercialization teams and years of innovation layout.

The Economic Observer learned that in his speech after being elected, Bi Jingquan mentioned the work that the China Center for International Economic Exchanges (CCIEE) will undertake next, which includes the biopharmaceuticals field.

The last leadership election of the China Center for International Economic Exchanges (CCIEE) took place in 2014, and the list of the second council members contained almost no representatives from pharmaceutical enterprises. However, in the list of the third council members, apart from the nine aforementioned representatives from member units of the Pharmaceutical Innovation Association, executives from other pharmaceutical enterprises are also included. A person close to the election site stated that this reflects the emphasis on the biopharmaceutical industry.

Bi Jingquan wrote in February 2024 that the biopharmaceutical industry is a strategic emerging industry, which will play a strategic supporting role in the process of China's modernization and is a sunrise industry with huge growth potential; the biopharmaceutical industry is an innovation-driven industry, the main battlefield for implementing the innovation-driven development strategy, and its development level is a concrete manifestation of a country’s scientific and technological standards; the biopharmaceutical industry is a high-quality development industry, green and low-carbon, with high technological content, low consumption of energy and raw materials. The development of the biopharmaceutical industry represents the high-quality development of the national economy.

The China Center for International Economic Exchanges (CCIEE) was established in March 2009 by Zeng Peiyan, the former Vice Premier of the State Council. It is a social organization approved by the Ministry of Civil Affairs, with the National Development and Reform Commission as its governing body. It has been referred to as "China's highest-level think tank." Its scope of operations includes research on strategic issues, economic issues, economic exchange and cooperation, and policy consulting services. The main internal departments of CCIEE include the Department of World Economy Studies, the Department of Macroeconomic Studies, the Department of Regional and Industrial Economy Studies, the Department of Innovation and Development Studies, the Department of U.S.-Europe Studies, the Department of International Exchange and Cooperation, and the Department of Scientific Research Management and Information Services.

The Economic Observer has learned that, regarding the biopharmaceuticals industry, the China Center for International Economic Exchanges (CCIEE) is discussing the possibility of establishing a dedicated research department.

From the aforementioned list of pharmaceutical companies, Hengrui Pharma, Junshi Biosciences, BeiGene, and Innovent Biologics were once collectively known as the "PD-1 Four小龙," having respectively developed and launched the PD-1 inhibitors camrelizumab, toripalimab, tislelizumab, and sintilimab.

Kelun-Biotech's antibody-drug conjugate (ADC) under research has drawn significant attention within the industry. In 2022, Kelun-Biotech reached a milestone-based collaboration with Merck on an ADC project worth nearly 10 billion US dollars.

Ascentage Pharma has developed the third-generation "Gleevec" – Olverembatinib tablets, which is the first and only approved treatment in China for CML with T315I mutation resistance.

Qilu Pharmaceutical Invested 4.43 Billion Yuan in R&D in 2023, a Year-on-Year Increase of 13.9%, with the Majority of R&D Investment Directed Towards Innovative Drugs.

Fosun Pharma is also advancing its innovation transformation, with eight indications for six innovative drugs approved for marketing in 2023. Shanghai Pharma is also laying out plans for innovative drugs, with three Class 1 new drugs at the pre-NDA (pre-New Drug Application) or marketing application stage in 2023.