2023 marks AstraZeneca's 31st year in China. 

During the first decade (1993-2003) following its entry into China, AstraZeneca held a strong belief in the vast market potential of the country, according to Wang Lei, the company's global executive vice-president and president of AstraZeneca China. During the subsequent decade (2003-2013), AstraZeneca's strategic focus developed towards manufacturing in China, resulting in the establishment of production facilities in Wuxi and Taizhou in Jiangsu province.

During the third decade (2013-2023), AstraZeneca doubled down on innovation in China. Recognizing the rapid expansion of clinical trials in China and the urgent need to accelerate the entry of global new drugs into the Chinese market, AstraZeneca established the AstraZeneca-CICC Healthcare Industrial Fund as a means to invest in innovation in the country.

"We have recently partnered with HutchMed, FibroGen, and Keymed Biosciences to provide direct investment in their innovative medications. This ensures that these drugs are not only developed in China but also launched simultaneously worldwide, making China the pioneer market and benefiting patients globally," Wang Lei explained.

"As AstraZeneca enters its fourth or fifth decade, our vision extends towards the future. Our objective is to provide patients worldwide with access to Chinese healthcare innovations. Simultaneously, we acknowledge our role as a responsible corporate entity, committed to co-building a sustainable health ecosystem while fulfilling our social responsibilities.”

On March 28 this year, AstraZeneca announced its significant commitment to invest 10 million yuan ($1.37 million) annually, totaling 100 million yuan over the course of a decade, in support of China's rural revitalization strategy.

Presently, AstraZeneca has established the Community Intelligence Healthcare Innovation Center at its regional headquarters in Beijing E-Town. This center serves as an incubator for innovative approaches aimed at enhancing the training of grassroots doctors and healthcare professionals. In partnership with the Red Cross Foundation, AstraZeneca aims to expand these successful models to key rural areas throughout China, playing a pivotal role in the broader development of the Healthy Villages program nationwide.

According to data published by global consultancy firm PwC, the size of China's healthcare market has surpassed 13 trillion yuan. Over the past eight years, this market has experienced rapid expansion, with an impressive compound annual growth rate of 13 percent. As a result, the country has now become the second-largest market in the world for this sector.

As a multinational pharmaceutical company deeply entrenched in China, AstraZeneca's scope extends beyond pharmaceutical pipeline development. They are actively engaged in cross-industry partnerships to create a multi-tiered healthcare innovation ecosystem.

In their promotion of green development, AstraZeneca is fervently driving sustainable healthcare innovation. Their dedication lies in reducing any negative environmental impact arising from their operations and serving as a beacon for encouraging green practices across the entire value chain.

Based on publicly available information, AstraZeneca has recently joined forces with Shandong's Qingdao to construct a production and supply facility in the city. The construction of this facility adheres to the LEED Gold standards (or local equivalent environmental standards). AstraZeneca is dedicated to utilizing green electricity sources, with the ambitious goal of achieving carbon neutrality by 2025.

Additionally, AstraZeneca is actively revamping its production facilities in Wuxi and Taizhou to transform them into exemplar smart global factories with a zero-carbon footprint. This transformation aligns with China's dual carbon targets, and signifies a shift from "Made in China" to "Smart Manufacturing in China".