Section Meeting – January 8th, 2013
I. Presentation overview—Lynn Tang, PhD, Associate Professor, College of New Jersey
China’s 12th Five Year Plan (2011-2015) offers an important framework for China’s economic and social development. It is also a significant document for China’s partners in the world economy because it presents both opportunities to do business with China and challenges to compete with Chinese companies in the global marketplace. Policy makers should also heed to China’s call for accomplishing the Plan’s goals.
The presentation briefly describes the nature of the Plan and explains the implications of the Plan to US businesses. Emphasis is placed on opportunities in China for companies in the health, technology and environmental sectors over the next 5-10 years.
The presenter will encourage wide audience participation. Several simple questions will be posed to the audience at the beginning of the presentation to engage them in discussion. Participants will benefit from the presentation by learning about the planned direction of the Chinese economy over the next few years, the implications of China’s policies for domestic and international business, and the role that U.S. businesses can play in this new economic environment.
II. Presentation Overview—Irene Wei, PhD, CQA, CEO, CSR Pharma Services, Inc
Since 2001, when China entered the World Trade Organization, to today when China has hosted the Summer Olympics in 2008 and the World Expo in 2010, the country has evolved into the global low-cost Manufacturing powerhouse with a sizeable sovereign wealth of about USD $3 trillion. Beginning a new decade, we see a changing Healthcare and Life Sciences landscape in the 21st Century with China developing and becoming a new Global Epicenter for Life Sciences Research and Innovation. The U.S. may still be the world’s superpower, but China and India are rapidly vying for world dominance in Biopharma by adding more research and innovation to their life sciences industry. There is a growing competition among these three nations for biopharma enterprises and their jobs, as they all look to this industry (pharmaceutical and biotech) for future growth.
The presentation will briefly describe the current market landscape in China and summarize the implications of Quality to US health, technology and environment businesses. Emphasis will be placed on new regulations that may have relevance to other industries. The presenter will discuss challenges and opportunities in China for U.S. companies in this decade.