At this moment, the clarion call for transformation in the biopharmaceutical industry has sounded, with state-owned enterprises and central SOEs leading the way in innovation. From April 12 to 13, 2024, the San-Yi Collaborative Future Medicine and Health Conference was successfully held in Shanghai. The event was jointly initiated by China Reform Healthcare, China Reform Fund, and China Reform Securities, and co-organized by the Zhongguancun Jiutai Drug Clinical Trial Technology Innovation Alliance, the Clinical Trial Industry Technology Innovation Strategic Alliance, and Shanghai General Hospital affiliated with Shanghai Jiao Tong University School of Medicine.
Li Yonghua, Secretary of the Party Committee and General Manager of Guoxin Health, delivered remarks on behalf of the corporate organizer. Liu Yingjie, Member of the Party Committee and Deputy General Manager of Guoxin Health, delivered a keynote address titled “Data-Driven Innovative Development in Biopharmaceuticals.” Attendees included Chen Zhinan, Academician of the Chinese Academy of Engineering and Deputy Chief Technical Officer of the National Science and Technology Major Project for “Major New Drug Creation”; Ying Yazhen, Vice President of the National Healthcare Security Research Institute; Zhang Wei, President of the China Association for Drug Administration Research; Qian Biyun, Director of the Center for Promotion and Development of Clinical Research in Municipal Hospitals under the Shanghai Shenkang Hospital Development Center; Zhuo Yang, Deputy Director of the Drug Evaluation and Inspection Center of the Shanghai Medical Products Administration; Sun Xiaodong, Vice President of the First People’s Hospital Affiliated to Shanghai Jiao Tong University School of Medicine; and Cao Cai, former Deputy Director of the Center for Verification and Inspection of the National Medical Products Administration. Over one hundred participants attended the event, including relevant executives from Guoxin Health, Guoxin Fund, and Guoxin Securities, as well as leaders from innovative biopharmaceutical enterprises across various provinces and municipalities and representatives from investment institutions.
▲ Future Healthcare Conference on Synergy Among Medical Services, Health Insurance, and Pharmaceuticals Held in Shanghai
Themed “Sowing Seeds in Spring Mountains, Converging Values—Winning in Health Insurance and Advancing Pharmaceutical Innovation,” and seizing the opportunity of the establishment of the Investment and Financing Special Committee of the Strategic Alliance for Technological Innovation in Clinical Trials, this conference broadly invites guests from administrative authorities, clinical institutions, pharmaceutical companies, and investment firms. The event focuses on digital-intelligence-driven innovative development in biopharmaceuticals, capital allocation across the biopharmaceutical economic cycle in the post-DRG/DIP era, and oncology diagnosis and treatment alongside value investment, aiming to share best practices and promote the translation of scientific achievements.
High-Quality Synergy Among the “Three Medical Sectors”: A Panoramic View of Innovation Driven by Guoxin Health’s Pharmaceutical Data Services
▲ Li Yonghua, Party Secretary and General Manager of Guoxin Health, delivered an address at the conference
From the perspective of industry development trends,China’s biopharmaceutical sector is transitioning from a phase of combined imitation and innovation to one led by indigenous innovation. As a strategic emerging industry, it possesses inherent attributes conducive to cultivating new quality productive forces. Li Yonghua stated that the core of accelerating the development of new quality productive forces in the biopharmaceutical industry lies in driving industrial innovation through scientific and technological innovation. State-owned enterprises (SOEs) and central enterprises serve as the “national team” for scientific and technological innovation and the “vanguards” of industrial development. They consistently shoulder the significant mission of promoting the growth of national strategic emerging industries. By fully leveraging the catalytic role of state capital, these entities jointly advance breakthroughs in key technologies and their industrialization in the biopharmaceutical field, foster the integration of biopharmaceutical technology with industry and of innovation with capital, and promote a virtuous cycle among science and technology, industry, and finance in future health, thereby providing broader development space for new quality productive forces.
▲ Liu Yingjie, Member of the Party Committee and Deputy General Manager of Guoxin Health, Delivers Keynote Address on “Data-Driven Innovative Development in Biomedicine”
Liu Yingjie provided a detailed overview of Guoxin Health’s exploration and practice in leveraging its data capabilities to serve the coordinated development of healthcare, medical insurance, and pharmaceutical services (the “Three Medicals”) across the entire pharmaceutical landscape. By continuously strengthening the “digital foundation” in the “Three Medicals” sector, constructing data resource catalogs for various application scenarios, and conducting drug grouping monitoring and analysis for DRG/DIP based on data insights, Guoxin Health provides pharmaceutical companies with specialized services throughout the entire product lifecycle. These services encompass data governance, data mining, and data asset development for clinical trials, real-world studies, registration and market approval, intelligent manufacturing, digital supply chains, and precision marketing. This approach unleashes the multiplier effect of “Three Medicals” data, realizes the value of data as a factor of production, and supports pharmaceutical enterprises in achieving commercial success in the new era.
“New” Wave of Dynamic Industry Chains: Empowering Investors to Invest with Confidence and Innovators to Innovate Boldly
In terms of collaborative innovation across the industry,High-quality development hinges on the high-efficiency synergy among various entities and the open, symbiotic coexistence of diverse elements within the industrial ecosystem. China Reform Health Management Group (Guoxin Health), in collaboration with China Reform Fund and China Reform Securities, has jointly established an internal “China Reform Biopharmaceutical Industry Synergy System.” Meanwhile, leveraging the external Strategic Alliance for Technological Innovation in the Clinical Trial Industry, it has founded the Investment and Financing Special Committee of the Strategic Alliance for Technological Innovation in the Clinical Trial Industry (hereinafter referred to as the “Investment Committee”). This initiative fosters open connections between pharmaceutical enterprises and investment institutions, building an industrial innovation consortium oriented toward future health. By deeply tapping into the advantages of big data in healthcare and fully leveraging the functions of capital markets, the organization drives cross-sector integration through a “data + capital + industry” model, providing clients with integrated, end-to-end companion services throughout the entire lifecycle of biopharmaceutical development.
▲ Inauguration Ceremony of the Investment and Financing Special Committee of the Clinical Trial Industry Technology Innovation Strategic Alliance
The “Investment Committee” will focus on guiding innovative technologies, optimizing investment and financing strategies, facilitating industrial resource matchmaking, and organizing promotional events. By deeply engaging in the integration of industry chain resources and building a collaborative innovation ecosystem, it aims to empower investors with confidence and innovators with courage. Committed to resolving the bottlenecks and challenges in transforming technological innovations into industrial applications within China’s biopharmaceutical sector, the Committee will continuously explore mechanisms and practical pathways for the deep integration of the innovation chain, industry chain, capital chain, and talent chain in biopharmaceuticals.
Concurrently with the conference, the exclusive industry report “Strategies for the Pharmaceutical Industry in Response to Comprehensive DRG/DIP Coverage,” jointly authored by Guoxin Health and Guoxin Securities, was released. It will be distributed exclusively to members of the inaugural “Investment Committee” and attending representatives.
“Smart” Tribute to New Quality Productive Forces: Technological Innovation Drives Industrial Innovation and Accelerates Frontier Translation
In terms of translating cutting-edge technologies into practical applications,Promoting breakthroughs in key biotechnologies is the inevitable path to enhancing the core competitiveness and sustainable development of China’s biomedical enterprises. At the meeting, Guoxin Health and Guoxin Securities signed a strategic framework cooperation agreement with Qichensheng, a leading domestic innovative biomedical enterprise. Guoxin Health will provide services such as big data analytics and clinical research to support Qichensheng’s drug development process, while Guoxin Securities will offer comprehensive listing advisory services to facilitate Qichensheng’s public offering. These efforts aim to accelerate the R&D of frontier biomedical technologies and the construction of industrialization platforms. By implementing company-specific strategies and targeted marketing, we will enhance our refined service capabilities for strategic clients and shape an investment-enabled ecosystem through business synergy.
▲ China Reform Health, China Reform Securities, and Qichensheng Sign Strategic Framework Cooperation Agreement
Industrial Prosperity Strengthens the Nation; Innovators Know No Bounds. The attending experts reached a strong consensus that the spiraling upward trajectory of collaborative exploration among government, enterprise, clinical practice, research, investment, financing, and services is precisely the pathway for multi-party collaboration to drive high-quality, coordinated development of the “three medicals” (medical care, health insurance, and pharmaceuticals), as well as the cornerstone for the in-depth implementation of strategic emerging industries during the 14th Five-Year Plan period. As we actively respond to industry reforms and shifts in industrial cycles, a new landscape characterized by more focused medical value, more inclusive health insurance services, and more sustainable pharmaceutical innovation may be on the horizon.
“Future Conference on Medical, Insurance, and Pharmaceutical Collaboration for Healthcare”Co-initiated by China Reform Health, China Reform Fund, and China Reform Securities, and jointly planned and hosted in collaboration with the Investment and Financing Professional Committee of the Clinical Trial Industry Technology Innovation Strategic Alliance, this series of industry exchange activities is anchored in the collaborative governance of “Three Medicals” (medical care, health insurance, and pharmaceuticals). It aims to drive product and service innovation through new-quality productive forces, while unlocking the multiplier effect of “Three Medicals” data and empowering biopharmaceutical investment and financing. Focusing on policy dynamics, technological transformations, industry priorities, and practical implementation, the series addresses key topics such as collaborative governance of the “Three Medicals,” health insurance payment reforms and pharmaceutical corporate strategies, capital allocation in the new economic cycle of biopharma, industrial transformation and value investment in innovative drugs. By establishing effective connections, sharing best practices, exploring implementation pathways, and promoting the translation of achievements, it seeks to build a resource-sharing and information-exchange platform among clinical institutions, pharmaceutical companies, investment firms, and government authorities. This initiative aims to foster sustainable, high-quality development driven by source innovation, promote the integration of biopharmaceutical technology with industry and of innovation with capital, and ultimately deliver tangible health benefits to patients.
The series of events will align with regions deeply implementing national regional strategies, including the Yangtze River Delta, the Beijing-Tianjin-Hebei region, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Chengdu-Chongqing Twin City Economic Circle, with continuous planning and hosting.

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Guoxin Health Security Service Group Co., Ltd. (hereinafter referred to as “Guoxin Health,” stock code: 000503) is a central state-owned enterprise listed under China Reform Holdings Corporation, specializing in comprehensive health security services with a focus on integrated medical insurance management. Guided by the strategic pillars of “collaboration among medical care, health insurance, and pharmaceuticals; innovation-driven development; and digital ecosystem building,” the company centers its operations on the aggregation, integration, and application of health big data. It advances informatization, digitization, and smart transformation in the healthcare industry, focusing on integrated medical insurance fund management services, medical quality and safety services, drug and medical device regulatory services, and innovative health services. By continuously unlocking the value of data and actively pursuing investment and cooperation opportunities, Guoxin Health is committed to becoming a leading healthcare security service provider. It delivers technological support and professional services to advance the “Healthy China” national strategy in the new era, fulfilling its mission as a central state-owned enterprise to “ensure fair and equitable access to health security services for all.”
Guoxin Health’s Digital Pharmaceutical Business provides integrated digital and intelligent regulatory services to the National Medical Products Administration (NMPA) and drug regulatory authorities at all levels, safeguarding the baseline of safety and facilitating the digital and intelligent transformation of drug supervision. Meanwhile, it unleashes the vitality of data accumulated in the fields of healthcare, medical insurance, and pharmaceuticals, leveraging innovative technologies such as artificial intelligence to promote high-quality development in the pharmaceutical industry. It offers pharmaceutical companies specialized services throughout the entire product lifecycle—including clinical trials, real-world studies, registration and market approval, intelligent manufacturing, digital supply chain management, and precision marketing—covering data governance, data mining, and data asset development. With a core focus on releasing the multiplier effect of “three-medical” (healthcare, medical insurance, and pharmaceutical) data and realizing the value of data elements, Guoxin Health helps pharmaceutical enterprises achieve commercial success in the new era and drives the construction of a comprehensive landscape for digital and intelligent regulation and industrial innovation in the pharmaceutical sector.
Guoxin Securities Co., Ltd. is a national comprehensive securities company established with the approval of the China Securities Regulatory Commission. China Reform Holdings Corporation Ltd. is the company’s actual controller. The company has a registered capital of RMB 5.841 billion, with its headquarters located in Beijing. It operates 18 branches (including one branch under preparation) and 64 business departments, and holds controlling interests in four subsidiaries.
The Company remains committed to its mission of serving the real economy, actively implementing a development strategy guided by investment research, led by investment banking, and driven synergistically by asset management, wealth management, and proprietary trading. It has established a comprehensive business layout encompassing investment banking, asset management, wealth management, proprietary investment, public mutual funds, futures, private equity funds, and alternative investments. Meanwhile, it holds key business qualifications for distributing financial products, operating on the National Equities Exchange and Quotations (NEEQ), and trading stock options, thereby forming a robust licensing framework.
Looking ahead, China Reform Securities will actively integrate into national strategic deployments and the overall landscape of state-owned capital operations. Focusing on the "three major tasks" of financial work, and upholding the core values of China Reform—"the nation’s pulse, inheriting the lineage of responsibility; innovation for long-term success, adhering to innovative development"—as well as the securities industry’s principles of "compliance, integrity, professionalism, and prudence," the company is committed to providing specialized, one-stop financial services to state-owned assets and central enterprises, while actively exploring a path toward distinctive, specialized, and premium-quality development.
As one of the earliest biopharmaceutical companies in China to engage in technological innovation and product R&D in cellular immunotherapy and mRNA nucleic acid drugs, Qichensheng Biotechnology has always adhered to its mission of “turning cancer into a chronic, controllable disease.” Upholding the development philosophy of “people-centricity, technology for social good, innovation-driven growth, and future leadership,” the company is committed to advancing the innovative R&D, manufacturing translation, and clinical application of nucleic acid therapeutics such as mRNA. It strives to provide effective solutions for the prevention and treatment of malignant tumors, infectious diseases, autoimmune disorders, and genetic diseases.
Qichensheng boasts three major technology platforms: the “One Body” (nucleic acid technology) and “Two Wings” (nanodelivery and cell delivery). Centered on immunological theories, the company has built a flexible universal platform technology and an integrated mRNA end-to-end production system that combines multiple technologies, establishing core competitiveness supported by robust platform capabilities. With TriVac and C2 as its core patents, Qichensheng has filed 53 invention patents related to mRNA technologies, 24 of which have been granted. The company has developed its own integrated R&D and manufacturing system with superior CMC translation capabilities, mastering key industrial technological links and achieving in-house production of raw material enzymes, plasmids, mRNA, and LNPs. It has laid out R&D and commercialization plans for multiple mRNA-DC drug candidates targeting refractory cancers, including pancreatic cancer, triple-negative breast cancer, and osteosarcoma.