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on the morning of august 28, in his speech at the fifth qingdao summit of multinational corporation leaders, wang lei, executive vice president of astrazeneca and president of international business and china, said: "we have brought good news to this summit! astrazeneca has decided to increase investment in the qingdao production and supply base again, with the total cumulative investment reaching us$750 million."

the reporter of "daily economic news" noticed that this year is wang lei's fourth time to attend the "qingdao summit of multinational corporation leaders". he was deeply touched by qingdao's good business environment.

image source: provided by the organizer

wang lei said several times in the interview: "astrazeneca invested in building a production and supply base in qingdao last year, achieving the signing of the contract, the acquisition of land, and the construction permit in the same year. this 'qingdao speed' is unique within the company and is the basis for our continued investment in qingdao."

in recent years, astrazeneca has continued to increase its investment in manufacturing. "in the past two years, we have invested more than $1.2 billion to build production and supply bases in china. the most important (projects) include the global production and supply base for inhaled aerosols built in qingdao, the new small molecule drug factory in wuxi, and the global diabetes drug production line built in taizhou," said wang lei.

it is worth noting that mckinsey wrote in a report titled "risk, resilience and rebalancing of global value chains": "more production is moving closer to major consumer markets, and china's growing middle-income group will continue to attract global multinational companies to make in-depth layouts in china."

perhaps it is for the above reasons that while investing in the construction of a production and supply base in qingdao, astrazeneca also incorporated the technology platform and innovation center into the project construction plan.

"china's new quality productivity and innovation are constantly rising. we believe that multinational companies can only truly benefit from it if they participate deeply and contribute actively." wang lei said that the company has seen china's innovation overtaking others and believes that china's innovation will lead global development in the future and allow patients around the world to use new drugs invented in china.

in wang lei's view, only by deeply participating in high-quality opening up and the creation of new-quality productivity, and combining chinese and western cultures, can foreign companies truly take root in the local area and truly become participants, beneficiaries and sharers.

daily economic news