"This is the first time that Pfizer has attended the high-level fair. I'm very impressed with the scale, quality, and results of the fair," said Yang Ying, Pfizer Vice-President, Worldwide Business Development Asia Lead, during an interview at the 21st China International Fair for Investment and Trade (CIFIT) in Xiamen, Fujian province.

Yang Ying, Pfizer Vice-President, Worldwide Business Development Asia Lead. [Photo/chinadaily.com.cn]

"The 21st CIFIT offers a platform for us to display Pfizer's innovation achievements, as well as a platform to communicate with governments and industry peers," said Yang.

Yang also shared her insights on China's new drug research and development.

"China's innovation medicine ecosystem has improved. I think within five years, China will become the second largest R&D base for innovative drugs in the world, surpassing Europe," said Yang.

Yang said that China's policy reforms in recent years have created huge development opportunities for foreign pharmaceutical companies and enabled foreign pharmaceutical companies to bring international innovative drugs into China faster, benefiting millions of Chinese patients.

At the same time, Pfizer can bring innovative drugs from China to the world and benefit patients all over the world, said Yang.

Founded in 1849 and headquartered in New York, Pfizer is a science-based, innovative, and patient-focused bio-pharmaceutical company.

In 2020, Pfizer had a revenue of $41.9 billion. It also ranked 215th in the Fortune Global 500 that year.

Since entering the Chinese market in 1989, Pfizer has become one of the leading foreign pharmaceutical companies in the country. So far, Pfizer has invested over $1.5 billion in China, with a presence in over 300 cities nationwide and a total staff of almost 7,000, covering business, R&D, and manufacturing in China.