MNCs wary of pouring big investments in China while actively seeking local partnerships

By Wang Fangqing

Caught up in the geopolitical tension between China and the West, western pharma multi-national corporations (MNCs) are increasingly cautious about investing in China. Instead, they prefer putting focus on China projects, said speakers at China Biomed Innovation and Investment Conference (CBIIC) held on last month in Suzhou.

“In the past year we saw that investments from MNCs no longer poured in China like before the pandemic, but we also saw foreign companies continue to seek Chinese local partners to work on different projects,” said Cynthia Wang, global business development director, Asia-Pacific region, at the French pharma Servier.