近年来，中国药品审评审批改革持续深化，生物医药产业加速迈向高质量发展阶段。全面实施的药品上市许可持有人（MAH）制度，不仅为激发本土生物医药企业研发活力提供了坚实政策支撑，更为跨国药企优化在华战略布局、拓宽本土化路径创造了关键机遇。当前，外资医药械企业在华推进本土化生产、跨国创新药企通过并购整合产业链资源，已成为行业发展新趋势。为帮助外资企业精准把握政策导向、抓住市场机遇，本次分享会特邀请天津市药监局相关领导解读相关政策，并联合跨国药企代表分享在华合作创新与并购实践经验。我们将进行深入的行业探讨，帮助企业更好地把握政策导向，优化产品和服务，并制定相应的应对策略。

As China deepens the reform for drug review and approval, its biopharma industry's transition towards quality-oriented development accelerates. Full implementation of the Marketing Authorization Holder (MAH) system not only provides solid policy support for indigenous biopharma companies to step up innovation but also creates precious opportunities for pharma multinationals to optimize their strategic layout in China and embrace more localization options. Now, it has become an emerging industry trend for foreign-funded pharma and medical device companies to speed up localized production in China and for innovative pharma multinationals to integrate resources along the industrial chain through mergers and acquisitions (M&A). During this event, we will invite officials from Tianjin Municipal Drug Administration to interpret relevant policies so as to help foreign investors better understand policy directions and seize market opportunities. We also look forward to hearing from pharma multinationals about their experience about cooperative innovation and M&A in China.