"Chinese medical device enterprises have made remarkable progress in innovation and commercialization since the newest round of national medical product regulatory reforms were launched in 2015," said Shi Lichen, founder of medical consulting firm Beijing Dingchen Consultancy.

“自2015年启动最新一轮国家医疗产品监管改革以来，中国医疗器械企业在创新和商业化方面取得了显著进展，”医疗咨询公司北京鼎辰咨询创始人史立辰表示。

Shi Lichen, founder of medical consulting firm Beijing Dingchen Consultancy, said: "Chinese enterprises have provided a lot of important anti-COVID-19 materials to the outside world since the COVID-19 outbreak.

医疗咨询公司北京鼎臣咨询有限公司创始人史立臣表示：“自新冠肺炎爆发以来，中国企业向外界提供了大量重要的抗新冠肺炎物资。

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, attributed China's leading position in COVID-19 vaccine development, both in terms of numbers and progress, to Chinese companies' R&D and manufacturing capabilities and fast response to market demand.

Shi Lichen, founder of Beijing Dingchen Consultancy, said it's very impressive that Chinese companies successfully developed an array of virus test kits in a very short time following the outbreak, and they are well-prepared to meet domestic and overseas demand.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, said Chinese companies are well prepared to produce testing kits for overseas markets, thanks to their leading manufacturing capabilities.

Shi Lichen, founder of medical consulting company Beijing Dingchen Consultancy, said the fast approval for clinical trials is partly due to Chinese authorities' accelerated processing of new drug and clinical trial applications, thanks to the drug regulation reforms starting from 2015.

"China's pharmaceutical market has the greatest potential in the world, due to its tremendous population, even though it is now second to the United States," said Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy.

"The FDA approval reflects the international pharmaceutical community's higher recognition of Chinese drug quality," said Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, said Chinese companies are at the frontier of biomedicine research and development, despite lagging behind in chemical drugs.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, said an initial public offering on the STAR Market will give the company a new and effective channel to raise money, which is important to its growth because it would help it focus on the research and development of new vaccines, a sector that requires a large amount of investment for product research and development.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, observed that an increasing number of multinational companies have been building innovation centers in China in recent years.

In addition to Junshi Biosciences, a slew of Chinese pharmaceutical companies, including Innovent Biologics Inc and Jiangsu Hengrui Medicine Co Ltd, have also forayed into innovative drugs－drugs with independent intellectual property－research and development, according to Shi Lichen, founder of third-party medical services platform Beijing Dingchen Medical Consultancy.

Shi Lichen, founder of Beijing Dingchen Consultancy, said China's pharmaceutical market, second only to that of the United States, has the greatest potential in the world due to the large population and to business opportunities arising from China's ever-deepening reform and opening-up.

Zhou Lichen, chairman of clothing brand Heilan Group, said that in the current context of a global economic slowdown and severe market saturation, problems such as the decoupling of production and sales, order delays and low production capacity have become key constraints on development in the traditional clothing sector.

Shi Lichen, founder of medical consulting firm Beijing Dingchen Consultancy, said cancer is a top killer in China, and boundless opportunities have been presented for early cancer detection industry players because they also target healthy people rather than just cancer patients.

"China's medicine reforms in recent years have been pushing Chinese companies to increase investments in new drug R&D and innovation to enhance product portfolios, instead of simply profiting from the production and sales of low-quality generics," said Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy.

Their efficiency in organizing development and production of urgently needed test products is very impressive," said Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy.

According to Shi Lichen, founder of medical consulting firm Beijing Dingchen Consultancy, Chinese pharmaceutical enterprises must become innovative, upgrade their sales approach, optimize their product portfolio and operations, and pay more attention to non-hospital drug buyers, to nurture competitiveness as the centralized drug procurement is expected to cover more drug titles in the future.

Shi Lichen, founder of medical consulting firm Beijing Dingchen Consultancy, said theoretically the sky is the limit for early cancer detection industry players as they also target healthy people rather than just cancer patients.

The sector will see rapid development," said Shi Lichen, general manager of Beijing-based consultancy Beijing Dingchen Management Consulting Co Ltd. As prescription medicines are required to be taken under the guidance of medical professionals, online channels were not allowed to sell them initially.

Shi Lichen, founder of Beijing Dingchen Consultancy, said although people inclined to resort to online healthcare during the outbreak, it is difficult for the platforms to keep many users after the epidemic fades because of weaker user loyalty compared with physical hospitals.

Shi Lichen, founder of Beijing Dingchen Consultancy, said the approvals also mark the international pharmaceutical community's higher recognition of Chinese drug quality and that more Chinese pharmaceutical companies are eyeing overseas markets as their R&D capabilities rise.

Shi Lichen, founder of Beijing Dingchen Consultancy, a medical consulting company in Beijing, said the undersupply usually occurs among low-price or reimbursable drugs when manufacturers are not capable or willing to continue their production due to low profitability caused by increases in manufacturing costs of items like active pharmaceutical ingredients.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, said the approval reflected Chinese pharmaceutical companies' increasing attention to innovation and new drug research and development.

Shi Lichen, founder of Beijing Dingchen Medical Consultancy, said Chinese pharmaceutical companies still lag multinationals in the sector of chemical pharmaceuticals despite that they are picking up speed.

"The guideline and action plan cover all the urgent challenges Chinese society is facing in the health sector, especially in disease education and prevention, chronic disease management, and control of diseases causing great burdens, such as cancer, diabetes, and respiratory disease," said Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, also predicted that imported medicine prices will likely continue dropping "over a long period".

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, said more formulations, mostly generic medicines, are exported from China, because Chinese generic medicines are gaining increasing acceptance in developed economies such as the US and the EU.

Shi Lichen, founder of medical consultancy Beijing Dingchen Consultancy, added that the Chinese authorities' recent policies are very supportive of innovation and high-quality generic drug research and development, providing solid incentives for Chinese pharmaceutical companies to file more ANDAs.

Shi Lichen, an industry analyst and founder of Beijing Dingchen Medical Consultancy, said such a situation is good for the domestic pharmaceutical industry in the long run.

Shi Lichen, an industry analyst and founder of Beijing Dingchen Medical Consultancy, said the tariff reductions will reduce pharmaceutical companies' costs, and when combined with other policies and incentives, will motivate the firms to cut their drug prices.