CIIE in the eyes of global CEOs | Bayer: Building bridges between China and the rest of the world
The China International Import Expo has become an annual event for many multinational companies to stage new products and services for China. It is also a stage for global business leaders to share insights that reflect the Chinese market from different perspectives. We have invited some of them to voice their opinions, which is to shed light upon the upcoming CIIE this year!
As one of the first participants to sign up for the initial China International Import Expo in 2018, Bayer understands the significant role that the CIIE plays, not only as a trade fair, but also as an example of China's substantial contribution to economic globalization. Combined with a GDP growth rate of 12.7 percent in the first half of 2021, the CIIE underlines China's role as a major driving force for the recovery of the global economy. Bayer expects the expo to continue to play a key role in promoting high-quality development and seeking solutions for a better future.
We understand that new and innovative solutions are urgently needed, both in China and worldwide, to address the world's most pressing challenges: a growing, ageing population with increasing demands for food and health care, and a planet that is fast approaching its limits. For Bayer – as a global life science company – this new era offers the chance and the obligation to bring groundbreaking innovations to society.
This is why we are advancing our own transformation with new technologies, strategic acquisitions, win-win cooperation, and portfolio restructuring. Bayer has invested heavily in breakthrough innovations such as synthetic biology, microbe engineering, and gene editing. We believe that these scientific advancements, combined with artificial intelligence, hold great promise for the future. Through a number of biotech acquisitions, Bayer is building a platform for cell and gene therapies and consolidating its leadership in this emerging field.
To mention just one example: Bayer is pursuing a two-pronged approach to deliver transformative therapies for Parkinson's disease, with one cell therapy candidate and one gene therapy candidate already in clinical trials. Parkinson's disease is the most common neurodegenerative disorder and its prevalence is rising in China and worldwide. We are looking for a way to stop and reverse this condition and help patients with high, unmet medical need. We believe that, in the near future, innovations like this can bring significant benefits to the world and the people of China – further contributing to the country's national "Healthy China" and "Rural Vitalization" strategies.
Over the past three years, Bayer has leveraged the opportunity of the CIIE to increase public exposure to our science-based solutions. We ramped up our efforts to address the demands of Chinese society by launching strategic partnerships with local innovative companies to develop products tailored to consumers' needs, and some of them have already borne fruit. In early 2021, for example, Bayer's cooperation with Jiangnan University and probiotics manufacturer Wecare-Bio led to the launch of Bayer's first-ever probiotic product, called TalEcid. It was specifically developed as a patented Chinese probiotic strain that helps promote the intestinal health of Chinese people. Another example is an agreement between Bayer and WaveForm Diabetes to provide innovative, continuous glucose monitoring solutions offering minute-to-minute glucose readings transmitted directly to smartphone. The real-world evaluation trial kicked off in Hainan in September.
This year at the CIIE, Bayer will present a series of engaging exhibits in the fields of health care and agriculture, while focusing on our commitment to addressing the fundamental needs of the people of China and supporting their well-being. We are uniquely positioned to offer innovative solutions ranging from food safety, food security, and nutritional supplements, through to disease prevention, treatment, and precision diagnostics.
Upholding our corporate vision of "Health for All, Hunger for None," Bayer's commitment to Chinese society addresses the pressing needs of today and the future. By participating in the CIIE, we look forward to sharing these innovative solutions with China, while partnering for further development in the country to benefit Chinese patients, consumers and growers.