HONG KONG SAR – Media OutReach Newswire – December 22, 2023 – KPMG China recently led a delegation of Chinese biotechnology company executives to explore opportunities in the rapidly developing APAC/ASEAN market. The APAC/ASEAN region has become a crucial destination for global biotechnology expansion, fueled by the strong collaboration between China and APAC/ASEAN under the Belt and Road Initiative. This venture follows KPMG China’s successful exploration of the Middle East forum in May 2023.
During the six-day on-site forum, from 4th – 9th In December, 20 executives from Chinese biotechnology companies visited leading institutions in Singapore and Indonesia, including the Singapore Economic Development Board (EDB), the Agency for Science, Technology and Research (A *STAR), Garea Technology, Rxilient Health Pte. Ltd. (Rxilient), DBS Bank, China International Capital Corporation (CICC), China-Singapore Suzhou Industrial Park Development, Indonesian Ministry of Health (MoH), PT Etana Biotechnologies Indonesia (Etana), medical technology company UBC, Tigermed, CFLD, etc. These visits provided invaluable insights into local market dynamics, regulatory landscapes, R&D infrastructure and clinical research facilities. The forum facilitated discussions on effective globalization pathways and implementation plans.
Frank Mei, Head of Corporate Risk Services of KPMG Asia Pacific and China and Life Sciences Advisory Partner of KPMG China, shared his thoughts on the global pharmaceutical market development, industry developments and prospects Chinese biotechnology innovation, as well as the rapid growth of domestic R&D during the period. last decade. Provide an overview of support in the form of policies, capital, enhanced R&D capabilities, enhanced affordability, and potential business models for Chinese companies operating in the APAC/ASEAN region. Frank Mei was invited to deliver a speech at the APACMed MTF China-ASEAN session, analyzing the emerging MedTech trends in the ASEAN market, the potential of Chinese companies and strategies for creating business development models robust. He highlighted KPMG China’s strategic initiative to help Chinese biotechnology companies penetrate global emerging markets, providing them with comprehensive support throughout their life cycle. During the visit to the Ministry of Health of Indonesia, Fran Hou, Life Sciences Partner of KPMG China, also highlighted the importance of collaboration within the ecosystem to improve the patient experience.
The Chinese biotechnology delegation visited KPMG offices in Singapore and Indonesia and met with KPMG’s global life sciences partners responsible for the EU, UK and US in Singapore. The conversations focused on the growth and development of Chinese biotechnology companies in the global market. Going forward, KPMG China will continue to support Chinese biotechnology companies in navigating global emerging markets, contributing to advancements in innovation and healthcare.
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