Such thought-provoking discussions on the healthcare sector in the UK and China, in 2024 and beyond, and the range of topics … from market overview to latest national security law, from market entry strategy to real case study! 

Industry insiders and experts were joined by dozens of attendees, online and in person, to explore the trends, market conditions, investment opportunities and challenges in this sphere, shared best practices in cross-border business and investment in the healthcare sector in 2024, and listened to first-hand experiences shared by a UK biotech company, Biorbyt, that succeeded in China. 

This was a hybrid event Crayfish.io organised in association with Eversheds Sutherland and King & Wood Mallesons. 

The online panel focused on inbound investment into the UK healthcare sector.

• Ruijia Zhang, Senior Trade and Investment Officer, UK Department for Business and Trade (DBT) gave an overview of the healthcare sector investment landscape in both the UK and China. 

👉 What challenges are faced by UK SMEs in the Chinese market;

👉 Why the UK is a good place for Chinese bioscience companies to set up their overseas R&D centres and a bridgehead to radiate the whole of Europe and the Commonwealth market;

• Eric Qian, Executive Director, Haoyue Capital, provided valuable insight into the minds of Asian/Chinese investors, particularly PE when they look at the UK healthcare market. highlighting the areas they are most interested in. Chinese companies are seeking new sources of growth through going abroad, but how can the UK benefit from the wave?

 👉 What Chinese companies are interested in the UK biotech sector and the challenges they face;

 👉 Chinese companies are seeking new sources of growth through going abroad, but how can the UK benefit from the wave?

• Clair Morgan, Partner, Eversheds Sutherland, led the audience through some key points of the 2022 National Security and Investment Act 2021, the definition of some critical terms and concepts, and explained the new UK investment screening regime it means for investment into the UK. 

👉 What does the UK’s new law, NSIA, mean to cross-border business activities in the healthcare industry?

👉 What may potentially jeopardize your otherwise promising deal due to the new legal restrictions? 

The in-person panel moderated by Geyang Huang, Director of Business Services, Crayfish.io, focused on the Chinese healthcare sector and business strategies for UK companies.

• Ting Zhang, Founder & CEO of Crayfish.io, talked about UK-China market evolution and opportunities, stressing the need for 

👉 UK-China market evolution and the opportunities emerging from the new trends;

👉 How Crayfish.io has served UK healthcare companies along their road to the Chinese market over the years;

👉 The strategic considerations for UK companies doing business in China, the challenges and opportunities of setting up a business in China.

• Mark Schaub, Senior Partner, KWM, talked about the Chinese market legal strategy – the legal restrictions for UK businesses to consider while planning their routes into China.

👉 The legal and strategic considerations for companies entering the Chinese market, e.g. a clear-case strategy, feasibility study, understanding of potential legal and practical restrictions, sources of funding, and the need for a Chinese partner and trust their team;

👉 The necessity of product registration, the dangers of gathering healthcare data, and the benefits of collaborating with a Chinese partner;

👉 Mistakes, mistakes, mistakes… what are some of the most common ones and how to avoid them, based on experiences, including personal ones.  

• Qun Yang, Co-Founder & Co-CEO of Biorbyt, a Cambridge-based biotech company that succeeded in China, shared a case in point. How did she make it in China? 

 👉 How has Biorbyt been founded and grown into a global business, and what role has the Chinese market played along the way; 

👉 Every step towards success was a challenge, why and how, in Biorbyt’s case? 

 👉 The importance of understanding local regulations, building strong distributor networks, and seeking professional service firms and legal advice.

Discussions over a few topics were carried over into the networking after the panel discussions:

• Employee retention, the reasons and the importance of salary and work-life balance;
• Concerns about idea theft and the need for increased protection;
• Challenges such as tensions between the UK and China, and the potential for investing in the Chinese healthcare sector;

That concluded the event on a high note.