(Yicai) March 24 -- Many international investors have expressed optimism about China's economy and assets, with the country welcoming the return of foreign capital, an official said.

China encourages deep engagement in the domestic market and looks forward to sharing development benefits, Han Wenxiu, executive deputy director of the Office of the Central Financial and Economic Affairs Commission, said at the China Development Forum, a key annual international business conference held in Beijing since 2000, yesterday.

Several multinational pharmaceutical giants, including AstraZeneca and Takeda Pharmaceuticals, expressed confidence in investing in China during this year's annual meeting, multiple sources told Yicai.

On March 21, AstraZeneca said the UK-Swedish firm plans to spend USD2.5 billion to build its second strategic research and development center in China and sixth worldwide in Beijing to expand its biotech innovation ties and local production. This is the biggest single investment in the city's biomedical sector over the past three years.

Chinese cities like Beijing and Shanghai possess top innovation ecosystems that bring together various collaborative resources, noted Pascal Soriot, chief executive officer of AstraZeneca. The new R&D center will enhance collaboration with local talent, promote drug development and the application of artificial intelligence tech, and serve as a bridge connecting China with the rest of the world, he added.

London-based AstraZeneca has allied with China for over 30 years, seeing the country's transformation from a recipient of innovative drugs to the world's second-largest new drug R&D nation, Soriot noted. China is leading the way in driving change, especially in cutting-edge fields such as cell and gene therapy, and the biopharmaceutical industry is crucial to the global public health system, he said.

In addition, China's pharmaceutical innovation environment is continuously improving, with the approval time for new drug clinical trials down to just 87 days from 501 days in 2015, Soriot said, adding that AI tech is bringing new opportunities for drug development.

China has become the world's second-largest pharmaceutical market, according to Christophe Weber, chairman of Takeda. With the development of the economy and population growth, healthcare demand continues to rise, he added.

Takeda recently allied with the government of Chengdu to set up the Takeda China Innovation Center to expand its digital innovation strategy and enhance its capability to serve patients, Weber noted. The country is of great significance to the Tokyo-based firm, so it will continue to drive innovation and introduce breakthrough therapies, he pointed out, adding that the Chinese government's support for biopharmaceutical innovation aligns closely with Takeda's strategic goals.

The two-day CDF's 2025 annual meeting that ends today is organized by the Development Research Center of the State Council and hosted by the China Development Research Foundation. It is held at the Diaoyutai State Guest House, with more than 750 representatives from foreign nations in attendance.

A record number of multinational companies from 21 countries attended this year's CDF, up from 18 nations a year ago, with the most firms, 27, coming from the United States. The forum saw representatives from various key sectors, including finance and insurance, healthcare, and energy and minerals.

Editor: Martin Kadiev