On May 7th, Bank of China announced in Shanghai its "Action Plan to Support the Innovative Development of the Entire Biopharmaceutical Chain," pledging to provide no less than 1 trillion yuan in comprehensive financial support for the entire biopharmaceutical industry during the 15th Five-Year Plan period. The event was attended by Bank of China Chairman Ge Haijiao and Shanghai Vice Mayor Chen Yujian, who both delivered speeches. Bank of China Vice President Yang Jun introduced the details of the action plan.
Ge Haijiao emphasized that the biopharmaceutical sector is a strategic emerging industry vital to national welfare, people's livelihoods, and security. It has become a crucial pillar in the development of a modern industrial system and the advancement of new quality productive forces. Bank of China has consistently implemented the Healthy China strategy, prioritizing the biopharmaceutical sector as a key service area. The bank has continued to increase resource allocation and leverage its global advantages to support leading pharmaceutical companies in completing influential projects such as market-leading IPOs, cross-border mergers and acquisitions, and overseas licensing deals. By providing financial support to enterprises across the entire biopharmaceutical chain, Bank of China remains committed to growing in sync with the industry and accompanying companies on their development journey.
Ge Haijiao noted that this year’s government work report for the first time identified biopharmaceuticals as part of the emerging pillar industries, creating vast opportunities for industrial upgrading and deeper participation in global competition. The release of the action plan represents Bank of China’s concrete effort to implement the decisions of the Central Committee and promote a virtuous cycle of "science-technology-industry-finance." The bank will align with policy directions, focusing on key clusters such as the Yangtze River Delta, Beijing-Tianjin-Hebei region, the Greater Bay Area, and Chengdu-Chongqing economic circle, to help build an ecosystem guided by policies, driven by technology, and empowered by finance. It will also enrich its financial offerings, striving to deliver full-lifecycle financial services. During the 15th Five-Year Plan period, Bank of China aims to cultivate at least five globally influential leading enterprises and over 50 specialized, sophisticated, distinctive, and innovative firms, including hidden champions in niche segments, thereby strengthening the industry's development梯队. Additionally, the bank will leverage its unique strengths to support Chinese pharmaceutical companies in taking their products and technologies global while attracting high-quality global biopharmaceutical resources to China, fostering deeper integration and efficient allocation of innovation, industrial, and capital chains both domestically and internationally. Bank of China is willing to join hands with all sectors to pool resources, complement advantages, and fully support the innovative development of the biopharmaceutical industry, injecting stronger financial momentum into the construction of a modern industrial system and a Healthy China.
The event was attended by representatives from the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the People's Bank of China, the National Healthcare Security Administration, national-level research institutions, biopharmaceutical companies, investment firms, industrial parks, as well as the Shanghai Head Office of the People's Bank of China, the Shanghai Municipal Financial Office, the Municipal Healthcare Security Bureau, the Municipal Development and Reform Commission, the Municipal Science and Technology Commission, and the Municipal Commission of Economy and Informatization.
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