Known for being one of the most dynamic and open regions in China, the Greater Bay Area has emerged as an important front-runner in the fast-paced game of global innovation. The entire healthcare industry stands to benefit from the region's advantages, which include numerous world-class research institutions backed by a strong pool of local talent, as well as the manufacturing capabilities and cutting-edge logistics chain needed to turn innovations into practical results in record time. Government policies aimed at boosting the region's development and integration are meanwhile giving further impetus to the industry's development. For example, the region's early access policy may grant Chinese patients faster access to innovative, life-saving drugs in areas with high unmet medical needs before their nationwide approval.

The Greater Bay Area has become one of Merck's most important strategic areas in China. And we have remained committed to the development of the Greater Bay Area for quite some time, notably through the launch of our Guangdong Innovation Hub in 2019. Since then, together with our local partners in the GBA, we are exploring possibilities in pharma innovation, promote the future development of pharmaceutical retail, and strengthen the healthcare innovation ecosystem in the region, in turn continuously bringing high-quality innovative drugs to more Chinese patients.