CEO of Eureka: China Is Set to Become a Global Leader in Cell and Gene Therapy

By Huang Zihao, Zhuang Huan, Zheng Quanyi, SFC, 21st Century Business Herald

The 2025 Understanding China Conference (Guangzhou) took place from November 30 to December 2 in Guangzhou. Under the theme "New Plan, New Development, New Choices: Chinese Modernization and New Vision for Global Governance," the conference brought together prominent global politicians, scholars, industry leaders, and representatives of international organizations to delve deep into China's 15th Five-Year Plan and shed light on its global significance, exploring the new layout of Chinese modernization's innovative development, the fresh opportunities it brings to global modernization, and joint efforts to advance global governance.

Over the past decades, China has been accelerating its transformation from a "major pharmaceutical manufacturer" to a "global leader in pharmaceutical innovation." In China's 15th Five-Year Plan, "advancing the building of a Healthy China" has been designated as a core task in improving people’s wellbeing, with explicit plans to make forward-looking arrangements for future industries such as bio-manufacturing as new drivers of economic growth, injecting strong policy momentum into the pharmaceutical sector.

According to the data from China's National Medical Products Administration, during the 14th Five-Year Plan period (2021-2025), China approved 210 innovative drugs and 269 innovative medical devices, with both categories maintaining an accelerated growth trend. Currently, China's biopharmaceutical market has risen to become the world's second-largest, with innovative R&D pipelines accounting for over 30 percent of the global total. In the first half of 2025 alone, the total value of outbound licensing deals for China's innovative drugs approached nearly 66 billion U.S. dollars, reflecting the global market's growing recognition of China's innovative pharmaceutical sector. With a large patient population, a rapidly optimizing regulatory review and approval system, a continuously expanding pool of scientific talent, and a dynamic capital market, China is developing unique advantages in innovative drug R&D, particularly in advanced therapies, attracting a rapid influx of global biopharmaceutical resources.

During the conference, SFC Reporter interviewed Dr. Liu Cheng, Founder and CEO of U.S.-based Eureka Therapeutics. As a scientist and entrepreneur with abundant experience in the biopharmaceutical sectors of both China and the U.S., Dr. Liu shared his insights on China's innovative drug ecosystem, regulatory environment, and prospects for international cooperation. He noted that the strategic positioning of the biology and health industries in the 15th Five-Year Plan, coupled with continuous policy support and an improving regulatory environment, will bring crucial policy benefits and market opportunities for the R&D of cutting-edge drugs. Dr. Liu is optimistic that China has a very good chance to become a global leader in gene and cell therapy, given the country's advantages in clinical research.

When asked about the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Dr. Liu Cheng, drawing from his own experience in the San Francisco Bay Area in the U.S., pointed out that the Greater Bay Area and Silicon Valley share the same successful DNA—a high-tech industrial ecosystem and a culture of interdisciplinary innovation. He believes the life sciences and health industries will be the next up-and-coming sector to achieve success in the Greater Bay Area.

Amid a complex international environment, Dr. Liu emphasized that biopharmaceutical cooperation should transcend geopolitics and serve as a bridge connecting China and the U.S. to jointly address global public health challenges. He sees himself as a "messenger" facilitating communication between the two countries, and highlights the key role of Chinese scientists worldwide in fostering collaboration and advancing the common health of humanity.

Chief Producer: Zhao Haijian

Supervising Producer: Huang Yanshu

Content: Huang Zihao, Zhuang Huan, Zheng Quanyi

Poster: Liu Yanyan

Overseas Operations Supervising Producer: Huang Yanshu

Overseas Content Coordinator: Huang Zihao

Overseas Operations Editors: Zhuang Huan, Wu Wanjie, Long Lihua, Zheng Quanyi

Produced by: Southern Finance Omnimedia Group