The 2026 Summer Davos Forum is being held in Dalian, attracting over 1,700 representatives from more than 90 countries and regions, making it the largest "Annual Meeting of the New Champions" in history. On June 24, Premier Li Qiang of the State Council attended the opening ceremony of the 2026 Summer Davos Forum in Dalian and delivered a speech. On the same day, Eric Tse, Chief Executive Officer of Sino Biopharm (1177.HK), Chairman of Chia Tai Tianqing, and Chairman of Beijing Tide Pharmaceutical, was invited to attend the "How Far Can China’s Innovation Model Go? " roundtable forum and expressed his views. 

Li Qiang Attends Opening Ceremony and Delivers Speech

Li Qiang stated that against the backdrop of an increasingly turbulent international situation, China's economy has braved the storms and forged ahead, presenting a multi-dimensional picture of "stability, newness, vitality, and integration". It has shown a resilient and vigorous start, injecting valuable certainty into a world of growing uncertainty. Innovation-driven development is the key to the long-term positive and stable growth of the Chinese economy. China's innovation is "forged" through hard work and internal strengthening, "applied" across thousands of industries, and 'nurtured' by cultivating a rich ecosystem. We will continue to strengthen breakthroughs in key technologies, enhance original innovation capabilities, promote the deep integration of technological and industrial innovation, break down barriers to optimal resource allocation, and stimulate the innovative vitality of the entire society. 

Li Qiang emphasized that innovative cooperation is the inevitable choice to solve the global growth dilemma. We should deepen connectivity and collaboration, jointly build an open world economy, maintain the stability and smooth flow of global industrial and supply chains, and more broadly gather the combined forces of innovation. We should adhere to "tech for good", improve global governance systems and rules in fields like artificial intelligence, enhance regulatory effectiveness, and more effectively advance common governance. Enterprises are the main force of innovation. I hope everyone will be a leader in innovation and creation, a practitioner of win-win cooperation, and a partner in China's development. China will further expand market access, continue to build a first-class business environment, and share more of the new opportunities arising from China's development. 

Seizing China's Innovation and Development Opportunities

China today is like the world's largest innovation laboratory, with more and more enterprises deeply integrating into China's innovation and industrial chains. At the "How Far Can China’s Innovation Model Go? " roundtable forum, Eric Tse responded to the aforementioned picture of Chinese innovation with the industrial practices of Sino Biopharm. In the old order of global drug R&D, the cycle for a new drug from discovery to market exceeded 10 years, with a total investment of up to $2.6 billion. However, with the continuous improvement of China's innovative talent training system, the construction of a public health network covering 1.4 billion people, and the acceleration of the entire chain from early drug R&D to clinical development by AI, the time from approval of a clinical trial application for a new drug to the enrollment of Phase III clinical subjects has been compressed to 2 years. This systemic advantage and technological iteration have fundamentally accelerated innovation transformation, allowing the results to benefit all of humanity. 

When discussing future innovation paths, Eric Tse stated: "Maintaining a global perspective is crucial". In 2000, Sino Biopharm chose to list on the Hong Kong Stock Exchange and positioned Hong Kong as the core pivot for the company's overseas expansion—accelerating R&D by leveraging the policy dividends of the mainland and going global through the international window of Hong Kong. In recent years, Sino Biopharm has been committed to becoming the preferred partner connecting Chinese innovation with the global market, continuously promoting the "bringing in" and "going out" of innovative achievements with international potential. He further pointed out that the biopharmaceutical industry naturally possesses a special attribute that transcends geopolitics. The common health needs of humanity provide an underlying logic for global pharmaceutical cooperation that is difficult to disrupt. 

At the end of the forum, Eric Tse answered the theme of the dialogue—"How far China's innovation model can go depends on how far world innovation can go". China is already an indispensable part of the global innovation system. The era of artificial intelligence has just begun, the pace of global innovation continues to move forward, and China will always be a core participant in this process. 

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