China Invests in Building Biotech

[...]there are new options for raising capital close to home; the Hong Kong Stock Exchange relaxed listing rules in 2018 to allow pre-revenue biotechs with a market cap of at least HKD 1.5 billion ($190 million) to go public. In terms of Chinese partnerships with Western firms, Rachel Howard, director at the Research Partnership, observes that "the attention multinational pharma companies have paid to Chinese biotech when it comes to tapping into local R&D hubs and outlicensing their drugs has continued to ramp up." [...]when considering how fast China is moving, it's important to remember that the US market "is not standing still either," says Young.