VB Group Interview | Where Are the Opportunities in China's Healthcare Sector Driven by Capital and Policy? Dr. Tian Yuan, Recipient of China's Top Economics Award, Joins VB Live
After nearly 40 years of rapid growth, China’s total economic output has approached that of the United States, making China and the U.S. the only two single economies in the world to reach $10 trillion. However, there remains a substantial gap between China and the U.S. in the scale of their pharmaceutical and healthcare industries.
For instance, 2015 data show that the biopharmaceutical market size was RMB 600 billion in the United States, compared with only RMB 280 billion in China; in terms of the medical device market, the United States had a market size of RMB 1.3 trillion, while China’s stood at only RMB 300 billion. The gap between China and the United States is even more pronounced in the scale and quality of medical services, health care, and health management.
"The vast gap may also harbor immense room for development and potential."Will the pharmaceutical and healthcare sector be the next breakthrough area for China after its progress across various fields?
The answer is beyond doubt; one need only look at the frequency with which “Big Health” appears in the media to gauge how hot this sector has become. In 2016, the market size of China’s healthcare industry approached RMB 3 trillion. According to the “Healthy China 2020” Strategic Plan and the “Healthy China 2030” Strategic Plan, the total scale of the health services industry was targeted to reach RMB 8 trillion by 2020 and RMB 16 trillion by 2030. Such enticing opportunities have filled practitioners and entrepreneurs with hope for the future and have attracted a rush of investors from all quarters.
Capital is a particularly critical element for companies at all stages in today’s industrial development landscape. The success or failure of a single funding round can determine a startup’s growth trajectory, or even its very survival.So, amid the current wave of transformative change, what is the specific landscape of financing and investment in the pharmaceutical and healthcare sectors between China and the United States? What new characteristics and opportunities have emerged?
Meanwhile, on the eve of the 19th National Congress of the Communist Party of China, the General Office of the CPC Central Committee and the General Office of the State Council issued the “Opinions on Deepening the Reform of the Review and Approval System to Encourage Innovation in Drugs and Medical Devices,” which immediately ignited intense discussion within the pharmaceutical and healthcare sectors. Some industry insiders even hailed it as the most significant policy for the pharmaceutical industry since the founding of the People’s Republic of China. What signals do these 36 new reform measures send? And what impact will they have on the pharmaceutical and healthcare fields?
With so many questions in mind, this episode of Duke in Touch, in collaboration with the internet medical and health media outlet VCBeat, held a VB group interview. We were honored to invite Dr. Tian Yuan, who has many years of experience in investment-related activities within the pharmaceutical and healthcare industry, to share his insights with us.
Guest Introduction
As a founding partner of Yuanming Capital, Dr. Tian Yuan has an impressive track record.
In academia, Tian Yuan holds master’s and doctoral degrees in economics from Wuhan University. He was named one of the third cohort of Distinguished Alumni of Wuhan University in 2003 and has received the China Economics Theory Innovation Award, the highest honor in Chinese economics.
Prior to founding Yuanming Capital, Dr. Tian Yuan established China International Futures Company in the financial sector, growing it into the largest of its kind nationwide during his tenure as Chairman and earning him the title of “Godfather of Chinese Futures.” In the logistics industry, he served as Chairman of China Chengtong Holdings Group Ltd., where he spearheaded a corporate restructuring involving RMB 22 billion in assets and successfully turned the group from loss-making to profitable. In the tourism sector, Dr. Tian invested in Yabuli Ski Resort, China’s largest ski resort, securing USD 200 million in financing and facilitating the sale and restructuring of related assets. In the retail industry, he co-founded and invested in Wumart Stores Group.
Currently, Dr. Tian Yuan is the Founding Partner of Yuanming Capital, as well as the Founder and Chairman of the China-U.S. Business Leaders Roundtable and the Founder and Chairman of the Yabuli China Entrepreneurs Forum. Notably, as the most influential entrepreneurs’ forum in China, the Yabuli China Entrepreneurs Forum has successfully held seventeen sessions, bringing together nearly every prominent figure in the Chinese business community for participation and knowledge sharing.
This time, we are confident that Dr. Tian Yuan will also deliver an outstanding live-streamed sharing session.
If you would also like to learn about the following:
1. For students and scholars currently studying life sciences, medicine, and other related fields within the broader health sector, what rare opportunities are available amid the current surge in the development of the big health industry?
2. What advice would you offer to business students aspiring to pursue careers in VC/PE?
3. From the perspectives of entrepreneurs and investors, what qualities are most urgently needed in talent? In the new round of interactions and development between China and the United States in the health and wellness sector, where are the talent gaps?
…
Don’t miss this live interview! You can also ask your most pressing questions!
This issue of Duke in Touch is brought to you by the Chinese-American Medical and Health Youth Students and Scholars Alliance, in collaboration with VCBeat and the Chinese Students and Scholars Association at Duke University.
Registration Method
No registration is required for this group interview. We look forward to your participation on Thursday, October 19 at 9:00 PM.
Scan the QR code in the image below to enter the live streaming room directly!
