China-Indonesia Forum on Healthcare and Biotech Investment Successfully Held, Exploring New Avenues for Bilateral Collaboration

On July 27, 2023, as the Chengdu Universiade was about to open to global attention, Indonesian Minister of Health Budi Gunadi Sadikin accompanied Indonesian President Joko Widodo on a visit to China. The China-Indonesia Medical Health and Biotechnology Investment Forum, co-hosted by the Embassy of Indonesia in China and the Indonesian Chamber of Commerce and Industry China Committee, and organized by Legend Capital and the China-Indonesia Chamber of Commerce, was successfully held at the Shangri-La Hotel in Chengdu. A total of 120 attendees, including leading enterprises in China’s medical health sector, Indonesian government officials, scholars, and business leaders, gathered to discuss the direction and opportunities for the development of medical health and biotechnology in China and Indonesia.

The forum was moderated by Mr. Wang Junfeng, Co-Chief Investment Officer of Legend Capital. Mr. Wang highlighted Legend Healthcare’s latest “Ecosystem+” strategy and expressed his hope to leverage this conference to build an open, technology-driven, and internationalized ecosystem in collaboration with leading healthcare enterprises from China and Indonesia. Mr. Garibaldi Thohir, Chairman of the Chinese Committee of the Indonesian Chamber of Commerce and Industry (KADIN); H.E. Djauhari Oratmangun, Indonesian Ambassador to China; and Mr. Arsjad Rasjid, Chairman of KADIN, each delivered opening remarks. They warmly welcomed Chinese healthcare companies to invest and develop in Indonesia, integrating innovative technologies, advanced concepts, and Chinese experience with local conditions to promote the advancement of Indonesia’s healthcare sector.

Wang Junfeng, Co-Chief Investment Officer at Legend Capital

Garibaldi Thohir, Chairman of the China Committee of the Indonesian Chamber of Commerce and Industry

Indonesian Ambassador to China Djauhari Oratmangun

Arsjad Rasjid, Chairman of the Indonesian Chamber of Commerce and Industry (KADIN)

Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia, delivered a keynote address titled “Transformation of Indonesia’s Healthcare System.” The report provided a systematic review and analysis of Indonesia’s overall healthcare system from multiple perspectives, including the current state of healthcare services, the quantity and competency of medical and technical personnel, the distribution of medical resources, and the coverage of universal health insurance. It highlighted the urgent need for transformation and development within Indonesia’s healthcare system. Mr. Sadikin expressed his hope to promote the upgrading and transformation of the healthcare system by establishing and improving a nationwide disease prevention and control monitoring network, enhancing primary healthcare services, training professional personnel and industrial workers, utilizing funds from various sources in a rational manner, and fostering deep cooperation with Chinese enterprises through national project-based initiatives. Finally, he warmly welcomed Chinese companies to invest and develop in Indonesia, working together to explore new opportunities and potential in the healthcare industry between China and Indonesia.

Indonesian Minister of Health Budi Gunadi Sadikin

Subsequently, Mr. Hong Tan, Managing Director of Legend Capital, delivered a presentation titled “Trends in Investment Cooperation in Indonesia’s Healthcare Sector.” He shared Legend Capital’s investment strategies and entry-point selection in Southeast Asia, with a particular focus on Indonesia, elaborated on the current state of Indonesia’s healthcare industry and its demands for upgrading and development, and called on leading Chinese healthcare companies to expand globally, increase their investments in the Indonesian market, and create greater value.

Hong Tan, Managing Director of Legend Capital

Subsequently, witnessed by the Indonesian Minister of Health and relevant government officials, the Indonesian Ministry of Health signed a strategic cooperation agreement with Tsinghua University. Meanwhile, Chinese healthcare enterprises and their Indonesian partners also held a signing ceremony. Chinese companies—including Sansure Biotech, Walvax Biotechnology, CanSino Biologics, BGI Genomics, Sinovac Biotech, Zhifei Biological Products, and Wondfo Biotech—reached collaborations and jointly signed agreements with Indonesian counterparts such as UBC Medical, ETANA, Kalbe Farma, BioFarma, and Kimia Farma, working together to promote the coordinated development of the healthcare sectors in both China and Indonesia.

Indonesian Ministry of Health Signs Strategic Cooperation Agreement with Tsinghua University

Subsequently, Mr. Li Ning, Vice President of BGI Group, delivered a keynote speech on “Development Trends in Life Sciences.” He stated that BGI Group aims to lead innovative advancements in genomics through an integrated “industry-academia-research” development model, promote the commercialization of genomic technologies, and harness these innovations for the benefit of humanity.

Li Ning, Vice President of BGI Group

During the roundtable discussion, Mr. Bonanza Perwira, an official from the Indonesian Ministry of Health, moderated the session on “Prospects for China-Indonesia Industrial Cooperation.” The panelists included Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia; Ms. Lucia Rizka Andalucia, Director of Pharmaceuticals and Medical Devices at the Indonesian Ministry of Health; Mr. Arsjad Rasjid, Chairman of the Indonesian Chamber of Commerce and Industry (KADIN); Mr. David Utama, President Director of Kimia Farma; and Mr. Vidjongtius, President Director of Kalbe Farma. Together, they addressed audience questions concerning Indonesia’s healthcare policies, health insurance payment mechanisms, market access and commercialization for foreign enterprises, and partner selection. They also expressed a warm welcome to more open cooperation with Chinese companies.

“Outlook on China-Indonesia Industrial Cooperation” Roundtable Forum

Subsequently, Mr. Qi Fei, Executive Director of Legend Capital, moderated the session on “Chinese Enterprises’ Collaborative Exploration in Indonesia.” The panelists included Mr. Dai Lizhong, Chairman of Sansure Biotech; Mr. Wu Xiaobin, President of BeiGene; Mr. Dong Shaozhong, Vice President of Walvax Biotechnology; Ms. Wang Jing, Chief Commercial Officer of CanSino Biologics; Mr. Xia Jusong, President of International Affairs at United Imaging Healthcare; and Mr. Chen Kai, Executive Director of AstraZeneca China. They shared insights and engaged in discussions on topics such as trends in China-Indonesia cooperation, development opportunities in Indonesia, practical experiences for Chinese companies expanding into the Indonesian market, and models of bilateral collaboration. The participants expressed a shared hope that Chinese healthcare enterprises will forge broader and deeper partnerships with Indonesia, Southeast Asia, and other countries along the Belt and Road Initiative, thereby benefiting more nations and peoples.

“Chinese Enterprises Collaborate to Explore in Indonesia” Roundtable Forum

2023 marks the 10th anniversary of the establishment of the Comprehensive Strategic Partnership between China and Indonesia, as well as the 10th anniversary of the Belt and Road Initiative. Seizing this opportunity, and guided by the principles of deepening strategic cooperation and promoting mutual development, collaborative efforts between China and Indonesia in the healthcare sector will undoubtedly contribute to building a global community of health for all.