China has approved 59 innovative drugs year-to-date, including 13 with novel
mechanisms or targets, signaling steady gains in original innovation capacity.
From January–August there were 113 biopharma business-development deals
nationwide totaling $119.997 billion; Shanghai led with 37 deals, or 33% of the
national total. Shanghai’s biopharma sector reached 500.566 billion yuan in
1H2025 and is forecast to exceed 1 trillion yuan in 2026, becoming the city’s
fifth trillion-yuan industry cluster.