For a long time, healthcare innovation has had efficient cooperation across academia, industries, and borders. Today, the most revolutionary therapies such as CRISPR and CAR-T are advances and achievements made through decades of collaboration. The healthcare industry has joined forces, and now we have entered a medical era where "cure" may replace "treatment". However, there is still a long way to go to achieve this. To continue to leverage the power of cooperation, we need to open the door to cross-border investment. More specifically, we need to invest in the right places, which means connecting Chinese and American companies. The most important thing is that the future lies in establishing a cooperative relationship with China.
In the field of healthcare, China and the United States face different challenges, and these differences provide us with unique opportunities for cross-border cooperation. As David M Sabow, head of technology and health care business of Silicon Valley Bank, said, "At present, the cost of health care in the United States accounts for 17.5% of GDP, and they are committed to reducing this proportion. At present, China's health care expenditure accounts for 6.2% of GDP, and they are hoping to increase this proportion". To achieve this transformation, China is determined to attract global innovative technologies, draw on the practical experience of other countries, and thus build a sustainable healthcare model.
Meanwhile, American companies need to look for opportunities to generate revenue in other markets, so cooperation between the two sides is expected to be mutually beneficial. It is gratifying that some cross-border investments are underway. In 2019, although there were concerns that the US Foreign Investment Commission (CFIUS) would ban Chinese investors from investing in the US biopharmaceutical industry, in reality, the proportion of investment by Chinese investors in syndicates in 2019 was still comparable to the level in 2018. However, as we will see, deepening cooperation in the coming year is crucial.
