Minister Wang Wentao Meets with David Ricks, Chairman and CEO of Eli Lilly and Company

On March 20th, Minister of Commerce Wang Wen Tao met with David Ricks, Chairman and CEO of Eli Lilly and Company. The two sides exchanged views on China-U.S. economic and trade relations, Eli Lilly’s business in China, and other topics. Wang Wen Tao stated that under the guidance of the important consensus between the heads of state of China and the U.S., the two sides recently held economic and trade consultations in Paris, France, and agreed to explore the establishment of a working mechanism to expand economic and trade cooperation. This sends a positive signal that the world’s two largest economies continue to promote cooperation, bringing stability and certainty to the expansion of economic and trade cooperation between enterprises of both countries. Wang Wen Tao pointed out that the successful convening of the recent “Two Sessions” across the country demonstrated China’s firm determination to promote high-level opening-up. China has formulated and implemented the “14th Five-Year Plan” outline, clearly focusing on key development areas, which will provide stable expectations for foreign-invested enterprises. He hopes Eli Lilly will continue to deepen its presence in the Chinese market and seek greater development. David Ricks said that Eli Lilly welcomes dialogue between the U.S. and China, which provides an indispensable sense of stability for enterprises. In recent years, China has continuously improved its pharmaceutical innovation level, promoted the development of professional talent teams, and accelerated the alignment of pharmaceutical regulatory environments with international standards. China’s “14th Five-Year Plan” has brought opportunities for multinational companies. Eli Lilly is optimistic about its development prospects in China and plans to invest an additional $3 billion in China over the next decade to help build a Healthy China. (Ministry of Commerce)