(Yicai Global) Nov. 5 -- The Chinese government's determination to continue to further open up China gives global companies the confidence and motivation to expand in the country, according to the local head of Novartis.
The leading pharmaceutical company has put its virtual reality technologies on show at the first China International Import Expo in Shanghai. The Basel, Switzerland-based firm said the tech includes a VR solution for molecular visualization that greatly improves efficiency in protein crystallography, molecular modeling and scientific demonstrations.
Novartis attaches great importance to the CIIE, an international trade exchange platform, and hopes to take this opportunity to introduce its product portfolio and global leading-edge health solutions to China, Novartis Group China President Yin Xudong said in a press release today. The CIIE runs from today to Nov. 10 at the National Convention & Exhibition Center in Shanghai.
"The China International Import Expo (CIIE) is a major initiative proposed by the Chinese government to firmly support trade liberalization and economic globalization and actively open the Chinese market to the world," Yin added.
Novartis was one of the first global firms to enter China, one of the drugmaker's most important markets. As such, the company is very interested in the development of China's healthcare sector and is willing to make its own contribution to innovation in the field, Yin said.
Novartis will also launch its smart Metabolic Management Center at this week's trade fair in order to screen and prevent cases of diabetic retinopathy. The lab integrates artificial intelligence with a fundus camera to find abnormalities at the back of the eye.
The firm also acknowledged that with faster drug approvals and implementation of new policies, such as China's entry into the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use, the country "has ushered in a new pattern of innovative research and development."
Editor: Emmi Laine