MNCs feeling buoyant about China in 2022

Zhou Xiaolan, president of Bayer Group China

A1 When it comes to 2022 and beyond, we foresee continued growth stability and resilience in China's economy under key priorities of the 14th Five-Year Plan (2021-25) which underscores a commitment to the "dual circulation" concept for economic development, driven by reform and innovation to promote stability and "high-quality development" in China.

A2 Despite challenges and uncertainties last year, our business saw a strong rebound from 2020 and reported encouraging results. As the largest market for Bayer Pharmaceuticals and the second largest for Bayer Consumer Health, China has become one of the most important pillars of Bayer's global business. We expect to carry this promising momentum into this year and beyond.

A3 Bayer supports China's determination to promote economic globalization and opening-up. Thanks to China's efforts to accelerate innovation and improve the business environment in recent years, Bayer has been able to bring in the latest innovative products and solutions to China faster. This includes Bayer Continuous Glucose Monitoring System (CGMs)－an all-new model for intelligent diabetes disease management which was introduced at the Boao Lecheng International Medical Tourism Pilot Zone in 2021.

A4 Contributing to sustainable development has always been a core element of Bayer's corporate strategy and of our core values. We promote inclusive growth and a responsible use of resources to help people and the planet thrive. Bayer is committed to stepping up our efforts in sustainability and helping to resolve major challenges of our times. Bayer launched in September our first Asia-Pacific Forward Farm in China, which plays an innovative and leading role in our sustainability efforts.

A5 The answer is an obvious YES. Our business in China is key to our current and future success. As the business environment continues to improve in China in terms of strengthened IP protections and the roll-out of encouraging laws and regulations, e.g. to accelerate the review and approval of new drugs, we will continue to increase our investment here as we lead and redefine innovation in life sciences.

For example, despite the challenges brought by the pandemic last year, Bayer kicked off the capacity expansion project of our Pharmaceuticals Product Supply Beijing Site. With an investment of more than 50 million euros ($56.49 million), the planned project is designed to increase the production capacity and accelerate the implementation of innovative digital solutions, in order to ensure a reliable supply of high-quality prescription drugs for more Chinese patients.