November 17, 2023, 2023The inaugural thematic forum of the Beijing Changping International Life Science Forum—the 2023 Changping Pharmaceutical and Health Financial Investment Innovation Forum—was successfully held. This forum was organized byHosted by the People's Government of Changping District, Beijing, and jointly organized by the Administrative Committee of Future Science City (Life Science Park Administrative Committee), the Administrative Committee of Zhongguancun Science Park Changping Park, the Financial Services Office of Changping District, Beijing, Beijing Changping Science and Technology Park Development Co., Ltd., Beijing Zhongguancun Life Science Park Development Co., Ltd., and VCBeat VB100Co-organized by.
Liu Juncai, Director of the Beijing Municipal Health Commission; Wu Bin, Director of the Beijing Municipal Medical Products Administration; Zhao Weijiu, Party Group Member and Deputy Director of the Beijing Municipal Local Financial Supervision and Administration Bureau; Gan Jingzhong, Secretary of the Changping District Committee of the Communist Party of China (CPC) and Secretary of the Party Working Committee of Future Science City; Zhi Xianwei, Deputy Secretary of the Changping District Committee of the CPC, District Mayor, Deputy Secretary of the Party Working Committee of Beijing Future Science City, and Director of the Administrative Committee; Liu Xiaodong, Standing Committee Member of the Changping District Committee of the CPC and Executive Deputy District Mayor; Cao Wei, Deputy District Mayor of Changping District; Liu Qiang, Deputy Director of the Administrative Committee of Future Science City and Deputy District Mayor of Changping District; Zhang Xian’en, Dean of the School of Synthetic Biology at Shenzhen University of Technology (Preparatory), Vice Chairman of the Chinese Society of Biotechnology, and Director of the Synthetic Biology Branch; Liu Guoen, Dean of the Institute for Global Health Development at Peking University and Academician of the Chinese Academy of Medical Sciences; Wu Yun, Director of the Beijing Stock Exchange; Chen Youtang, Deputy Secretary-General of the Insurance Asset Management Association of China; Gao Dapeng, Executive Director and General Manager of JOINN Laboratories; Li Qian, Chairman of Beijing Sunshine Nohe Drug Research Co., Ltd. (SunNovo); Xiao Zhi, Co-Head of the Life Sciences Team and Managing Director at SDIC Investment Promotion; and Bi Yuanfeng, Co-founder and Chief Operating Officer of VCBeat.Nearly 50 representatives from government departments, regulatory agencies, academia, industry, healthcare, and the investment community were invited to attend, engaging in dynamic exchanges of ideas and insights to explore value investment and value creation in the future pharmaceutical and health industries, thereby creating an intellectual feast that integrates “industry, academia, research, investment, and finance” within the pharmaceutical and healthcare financial investment sector.
Liu JuncaiAttending the forum and delivering remarks, he pointed out, “Since 2018, the Beijing Municipal Government has issued the ‘Beijing Action Plan for Accelerating Collaborative Innovation in Medicine and Health’ twice to promote industrial development. Recently, the Municipal Health Commission is leading the formulation of measures to enhance the level of clinical research. Moving forward, we will further strengthen the original innovation and industrial support capabilities of medical institutions across the city by enhancing capabilities, strengthening collaboration, and improving services, all guided by clinical needs.”
Wu BinIn his remarks, he stated: “The Beijing Municipal Drug Administration has consistently adhered to the core principle of ‘safeguarding safety by holding the bottom line and promoting development by striving for excellence.’ While strictly preventing, managing, and controlling drug safety risks to ensure safe medication for citizens, we have vigorously supported the development of the pharmaceutical industry. Looking ahead, the Municipal Drug Administration will earnestly implement the ‘Four Strictest’ requirements, integrate deepening reforms, strengthening regulation, and promoting development, leverage regulatory advantages, optimize the business environment, enhance service quality, and make dedicated contributions to innovation in the biopharmaceutical industry.”
Zhao WeijiuIn his address, he stated, “In the process of Beijing’s high-quality development, there is an urgent need to better leverage the functions of finance, deepen supply-side structural reforms in the financial sector, and vigorously develop technology finance. This will provide stronger financial support for achieving high-level scientific and technological self-reliance and self-strengthening, and further promote a virtuous cycle in the fintech industry. The Beijing Municipal Local Financial Regulatory Bureau will collaborate with relevant departments and Changping District to better utilize the listing service mechanism, providing full-chain capital market services for innovative small and medium-sized enterprises (SMEs) and helping more high-quality companies access the capital markets.”
Gan JingzhongIn his address, he extended a warm welcome to the guests attending the forum on behalf of the Changping District Committee of the Communist Party of China and the Changping District People’s Government, and expressed heartfelt gratitude to friends from all sectors who have long cared about and supported Changping’s development. He stated that, as a key hub for Beijing’s efforts to build an innovation engine for the pharmaceutical and health industries, Changping has, in recent years, seized the opportunity presented by the establishment of the Zhongguancun Sci-Tech Finance Reform Pilot Zone to introduce a range of policy measures. These initiatives aim to foster close integration between financial investment and technological innovation, injecting strong momentum into the innovative development of the pharmaceutical and health industries. Meanwhile, with robust support from relevant municipal authorities, Changping District has planned and hosted a series of branded events, including the International Forum on Life Sciences, continuously optimizing the innovation service system for the pharmaceutical and health industries. He expressed the hope that this forum would enable more like-minded individuals, particularly strategic investors and entrepreneurs, to learn about, engage with, and invest in Changping, becoming “innovation partners” in the leapfrog development of Changping’s pharmaceutical and health industries. Changping will continue to optimize its regional innovation ecosystem and financial environment, striving to provide first-class services to entrepreneurs and investors operating in the district, so as to jointly create a brighter future.
Focusing on the Technological Frontier, Highlighting Original Innovation
Tech-Finance Empowers Industrial Innovation and Upgrading
As an emerging and disruptive technology, synthetic biology is becoming a key engine for a new round of industrial upgrading under policy support, with the potential to lead the “Third Biotechnology Revolution.” Recently, Beijing issued the Implementation Plan for Promoting Innovative Development of Future Industries, which encourages the development of frontier industries and accelerates the application of synthetic biology technologies.
Zhang Xian’en, Dean of the School of Synthetic Biology at Shenzhen University of Advanced Technology (in preparation), Vice Chairman of the Chinese Society of Biotechnology, and Director of the Synthetic Biology BranchDelivering a keynote address on “Synthetic Biology and the Bioindustry,” Professor Zhang Xian’en provided a detailed overview of the developmental trajectory of synthetic biology, global attention to its advancement, applications in the health and wellness industry, and associated technical challenges and solutions. He pointed out that the development of synthetic biology has followed three main threads: enabling technologies and theoretical innovations, genome/chromosome synthesis, and metabolic engineering and cell factories. Regarding the future high-quality development of synthetic biology, Professor Zhang emphasized the need for active synergy among three key elements: technology, market, and policy.
As the first corporate-style stock exchange in China approved by the State Council, the establishment of the Beijing Stock Exchange holds epoch-making strategic significance. At the meeting,Wu Yun, Director of the Beijing Stock ExchangeDelivered a keynote speech titled “Introduction to the Beijing Stock Exchange’s 19 Deepening Reform Measures.” He pointed out that the policies can be broadly summarized into six aspects: clarifying development goals, reforms on the financing side, reforms on the investment side, trading mechanism reforms, market interconnectivity, and fostering a healthy market ecosystem. The measures deeply focus on key issues of greatest market concern, such as liquidity and attractiveness, exerting multi-pronged and coordinated efforts to implement a comprehensive package of policy reforms and institutional combinations, while also creating room for sustained reform and development in the future.
As people's medical and healthcare needs become increasingly prominent and policy guidance is further strengthened, the integrated medical and elderly care industry will remain a key area for heavy-asset investment by insurance capital over an extended period.Chen Youtang, Deputy Secretary-General of the Insurance Asset Management Association of ChinaDelivered a keynote speech titled “Leveraging the Advantages of Insurance Capital to Support Innovative Development in the Medical, Elderly Care, and Health Industries,” which covered the application and characteristics of insurance capital, the challenges it faces, and investment opportunities in the medical, elderly care, and health sectors. It was stated that the Association will continue to fulfill its functions and actively promote innovative development in insurance capital investment in the pharmaceutical, healthcare, and elderly care industries.
Strengthening basic research, highlighting originality, and encouraging free exploration are requirements put forward at the 12th National Congress of the Communist Party of China. During the innovation dialogue session,Gao Dapeng, Executive Director and General Manager of JOINN; Li Qian, Chairman of Beijing Sunshine Nohe Drug Research Co., Ltd. (SunNovo); Liu Guoen, Dean of the Institute for Global Health Development at Peking University and Member of the Academic Division of the Chinese Academy of Medical Sciences; and Xiao Zhi, Co-Head of the Life Sciences Team and Managing Director at SDIC Investment PromotionThe four panelists engaged in a discussion on “How Basic Research and Original Innovation Boost Industrial Development,” addressing issues such as the current state of the biopharmaceutical industry, how CRO companies can empower Chinese pharmaceutical enterprises, how universities can attract high-quality talent to engage in basic research, and offering advice for faculty members embarking on entrepreneurial ventures.
Global Healthcare Industry Capital Report Released
Insight into Capital Shifts, Empowering Investment Decisions
At the forum, the “2023 Global Healthcare Industry Capital Report” was prominently released. Against the backdrop of emerging technologies entering the market, global demographic shifts, ongoing regional international conflicts, upstream supply chain shortages, and healthcare institutions’ efforts to reduce costs and improve efficiency, the report provides an in-depth analysis of data across key dimensions, including high-potential sectors in healthcare, financing stages, popular cities/industrial clusters for investment and financing, and active healthcare investors. It also offers a forward-looking perspective on trends in pharmaceutical and healthcare investment and financing. By cleaning and analyzing over 42,000 financing records, the report leverages authentic investment and financing data to substantiate the evolving trends in the global healthcare industry in 2023, thereby helping industry practitioners gain insights into capital market dynamics.
Bi Yuanfeng, Co-founder and COO of VCBeatDuring the on-site interpretation of the "2023 Global Medical and Healthcare Industry Capital Report," it was pointed out that by the third quarter of 2023, the total financing amount in the global primary market for the medical and healthcare industry was approximately RMB 330 billion, with Beijing leading the country in total financing for the third quarter. In recent years, Beijing's pharmaceutical industry has been undergoing a profound transformation. As the main hub for developing Beijing's pharmaceutical and health industries, Changping District is also continuously advancing industrial upgrading. Data shows that from 2020 to 2023, Changping District in Beijing witnessed a financing boom in the medical and healthcare sector, with over 300 financing events occurring during this period. The district maintained high activity levels with financing projects every month, accumulating nearly USD 3.7 billion (approximately RMB 27 billion) in total financing. Both the number of financing events and the cumulative financing amount reached historical peaks.Furthermore, the report points out that despite the growing caution among investment institutions, early-stage and small-scale investments remain the dominant trend, with innovation capability and R&D capacity becoming key breakthroughs for startups. The surge in emerging technologies such as ChatGPT, synthetic biology, and gene editing is not only opening up new tracks but also attracting increased capital inflows, leading to a continuous emergence of new processes and therapies. State-owned capital, represented by local government guidance funds, has entered the market with strong momentum, becoming an important driving force for investment layout and the development of industrial clusters.
“Taking the Pulse” of Industry Opportunities and Challenges
Four Major Chapters Roundtable: Converging Strengths Through Intellectual Exchange
Strengthening source innovation is key to elevating China’s innovative drug R&D capabilities to a world-class level, and it is also an essential path for the high-quality transformation of China’s biopharmaceutical industry. During the Innovative Pharmaceuticals Roundtable session,Gao Jieliang, Senior Partner at CDH Innovation & Growth Fund; Li Qichen, Co-founder and General Manager of ImmuneOnco Biotech; Shang Yuanfang, Founder and CEO of CellX Biosciences; Tian Wenzhi, Chairman, CEO, and CSO of ImmuneOnco Oncology; Xu Qian, Beijing Managing Director and Managing Partner at Danlu Capital; Yang Bin, Director of the Smart Health Center at the Institute for Precision Medicine, Tsinghua University; Zhang Yi, Managing Partner of Huagai Medical Early-Stage FundParticipants initiated a discussion on the significance of source innovation and achievement transformation for the innovative drug industry. Subsequently, aligned with the roundtable’s industrial chain framework, in-depth discussions were held focusing on distinct sectors: from the academic perspective, how to enhance the quality and efficiency of transforming university research outcomes; from the corporate perspective, how to maximize the commercial and clinical value of innovative drugs; and from the investment perspective, insights into trends in source innovation investment and the capabilities of early-stage entrepreneurial teams.
Although China has become the world’s second-largest medical device market after the United States, more than 90% of high-end medical equipment in the country has relied on imports over the past few decades. Driven by the dual forces of policy support and technological innovation, Chinese medical device companies need to seek new opportunities in “import substitution” and “going global.” During the roundtable discussion on innovative medical devices,Tang Haofu, Partner at Chongqing Dianshi Chuangjian Fund / Shanghai Chuangrui Fund; Liu Hongmei, Deputy General Manager of Huapu Instruments; Xie Jing, CTO of Weimai Medical; Yi Hongxiang, Partner at Shenzhen Capital Group’s Hongtu Healthcare Industry Fund; Zhang Yiling, Chairman of Changmugu; Zhou Yixin, Director of the Department of Orthopedic Surgery at Beijing Jishuitan Hospital Affiliated to Capital Medical University, Professor and Doctoral Supervisor at Peking University and Capital Medical University; Zhu Zhicheng, Deputy General Manager of JiuyiyuanUnder the theme “Strategies for Chinese Medical Device Companies to Break Through Amid Great-Power Competition,” the discussion focused on three key topics: forging original innovation capabilities as Chinese device manufacturers transition from followers to pioneers; strategies for various stakeholders to cope with pressures stemming from environmental factors such as volume-based procurement and anti-corruption campaigns; and the challenges that must be overcome to enter international markets. Participants shared their unique insights on these issues, and concluded the dialogue with high hopes for the global expansion of innovative Chinese medical devices.
The pharmaceutical and healthcare industry is accelerating rapidly, with the construction of industrial parks and operational service agencies also entering a fast track. The "Industrial Ecosystem" roundtable has gatheredKang Haihua, Senior Managing Director of Qiao Capital and CEO of the Qiao Healthcare Industry Facilities Platform; Wang Hui, Founder of Hongrun Health Group; Zang Dongning, Vice President of Clinical Development at Thermo Fisher Scientific China; Zhao Weiwen, General Manager of BGI Blue Rainbow Life Sciences Accelerator; Zheng Xiaoyu, Executive Dean of Beijing Gaobo Hospital and Beijing Gaobo Boren Hospital; Zhuang Jia, Head of Innovation Department at ATLATL and Executive Director of ATLATL Venture CapitalSix guests, with the hostLi Yang, Head of Yuanyi Digital Health AcceleratorUnder the guidance of, a discussion was held on the theme of “Pathways for Service and Operation Agencies to Enhance Their Capabilities under the Requirements for High-Quality Development of Industrial Parks.” Drawing from their respective industrial parks and service and operation agencies, the panelists outlined the current pain points and challenges they face, and shared their strategic directions, development plans, and approaches to improving service efficiency and quality through model innovation. Multiple ecosystem organizations within the Changping industrial parks proposed their respective collaborative service models, actively promoting inter-organizational cooperation to deliver better services across the entire Changping park ecosystem.
In addition to policy dividends, capital is also a crucial factor driving the development of the pharmaceutical industry. The final roundtable discussion of this forum, “Capital Inquiry,” centered on the theme “The Survival Path of Capital and the Pharmaceutical Industry in a Complex Macroeconomic Environment,” moderated byTao Yu, Executive General Manager of Changkejin CompanyModerator of the Roundtable Discussion,Cao Feng, Partner at Yingke Capital; Li Fan, Global Partner at Fosun International and CEO of Fojian Capital; Li Jiangfeng, Partner at Fortune Capital; Liu Jiayun, Partner at Yahui Investment; Liu Yu, General Manager and Managing Partner at BGI Win-Win; Zheng Yufen, Founder and Chairman of Yueyin Medical FundJoint Participation. The panelists unanimously agreed that although the macroeconomic environment is constantly changing and the primary market is currently in a "winter" phase, they remain optimistic about the future of investment in the pharmaceutical industry. From a long-term perspective, the current situation is merely a "minor fluctuation" in the lengthy course of industrial development. Furthermore, the panel shared insights on promoting innovative growth for enterprises and advancing industrial development, discussing how investment institutions should respond to policy trends, market dynamics, and changes in investment, management, and exit strategies, while drawing upon the investment and management experiences of different types of investment firms.As a key hub for Beijing’s International Science and Technology Innovation Center, Changping District is accelerating the development of “Life Valley,” aiming to achieve global leadership in the field. By establishing a multi-channel, multi-level platform for exchange, communication, and services, this forum strengthens financial support and empowers the biopharmaceutical industry, jointly promoting the high-quality development of Beijing’s pharmaceutical and health sectors. In the future, Changping District will continue to actively attract and support various financial institutions to establish operations in the district, providing targeted empowerment to enterprises across the ecosystem chain and injecting new momentum into the growth of the pharmaceutical and health industries.
Forum Organizational Structure
People's Government of Changping District, Beijing Municipality
Organizer:
Future Science City Management Committee (Life Science Park Management Committee)
Administrative Committee of Changping Park, Zhongguancun Science Park
Financial Services Office of Changping District, Beijing
Beijing Changping Science and Technology Park Development Co., Ltd.
Beijing Zhongguancun Life Science Park Development Co., Ltd.
Beijing Danhuang Technology Co., Ltd. (VCBeat VB100)
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