The world’s second-largest economy is fast moving away from reforms and open to a "dual circulation" model, focusing on domestic market consumption while reducing export-driven production. Executives and investors shared views at a conference on whether multinational pharma firms are still welcome in China and what opportunities may lie in the drastic policy shift.

The world’s second-largest economy is fast moving away from reforms and open to a "dual circulation" model, focusing on domestic market consumption while reducing export-driven production. Executives and investors shared views at a conference on whether multinational pharma firms are still welcome in China and what opportunities may lie in the drastic policy shift.

While the stock prices of a few biotech companies have advanced significantly as a result of their pandemic efforts, a broad biotech stock index has underperformed the pharmaceutical index. Why?

China opens the Beijing Stock Exchange to boost direct funding for innovation-driven small- and medium-size enterprises. But a closer look at the listings shows that biotech firms will largely miss the party.