Yin Yong, Mayor of Beijing, met with Pascal Soriot, CEO of AstraZeneca on the afternoon of March 21.

Yin Yong highlighted that as the world’s second-largest economy, China demonstrates significant growth potential and vast market opportunities. By upholding its fundamental policy of opening-up, China is steadily expanding higher-standard institutional opening-up and plans to further expand pilot projects in the healthcare sector this year. Beijing boasts a strong talent pool in pharmaceuticals and healthcare, a well-developed industrial ecosystem, abundant clinical resources, and robust medical demand. Through the implementation of deeper reforms in all respects and the expansion of opening-up, more piloting reforms in the pharmaceutical field will be introduced at an accelerated pace, further driving the innovation and development of the industry. Yin expressed his hope for AstraZeneca to leverage Beijing’s strengths to expand its R&D and investment in the city, facilitating more clinical trials for its pipelines, and contribute to the high-quality development of Beijing’s pharmaceutical and healthcare industries. Beijing will continue to foster a world-class business environment, providing robust support and services for companies in the city.

Confident in China’s economic prospects, Pascal Soriot expressed his gratitude to Beijing for its strong support of AstraZeneca’s development in the city. He stated that China is emerging as a hub for global technological innovation. AstraZeneca is committed to deepening its presence in the Chinese market and expanding its footprint in Beijing by capitalizing on the city’s innovation resources. The company aims to accelerate drug research and clinical application cooperation in Beijing, striving for mutually beneficial outcomes to serve more patients.

Following the meeting, Beijing Municipal Science & Technology Commission and Administrative Commission of Zhongguancun Science Park, Beijing Economic-Technological Development Area, and Beijing Cancer Hospital signed cooperation agreements with AstraZeneca, respectively. The company announced plans to invest USD 2.5 billion in Beijing to establish its sixth global strategic R&D center, which will include an AI-powered Oncology Digital Science Center. Additionally, AstraZeneca will set up a rare disease drug research center in the Beijing Economic-Technological Development Area and collaborate with Beijing Cancer Hospital on early-stage clinical research in gastric cancer.

Jin Wei, Member of the Standing Committee of the CPC Beijing Municipal Committee and Vice Mayor of Beijing, and Zeng Jin, Secretary-General of the People’s Government of Beijing Municipality, attended the meeting.

(Written by Yang Qi)