Key View

• We at Fitch Solutions forecast dairy spending in the Chinese market to grow by an annual average of 11.4% over the medium-term (2021-2025), outperforming headline food spending growth of 9.8% over the same period.
• Our forecast for China's dairy market is being supported by the ongoing healthification trend in recent years, which has

Key View

• We at Fitch Solutions have revised our real GDP forecast for 2021 to 8.3%, from 8.5%, as downside risks persist amid a significant slowdown in the economy in August.
• Indeed, high frequency data suggest that real GDP growth slowed sharply to 4.4% y-o-y in August from our estimate of 6.3% y-o-y in July, which is below trend growth pre

Key View

• Counterfeit medicines in China pose a risk to public health and the business environment for drugmakers.
• China, in order to fulfil its goals of becoming a healthcare hub will be at the forefront of regulatory changes.
• The new Amended Drug Administration Law will aim to address problems of counterfeit drugs and substandard drugs.

F

• Contemporary Amperex Technology Co. (CATL) is a Chinese battery manufacturer specialising in lithium-ion batteries (LiBs) for electric vehicles (EVs) and other energy storage applications.
• Founded in the coastal city of Ningde, China, in 2011, CATL has risen to become the world’s foremost EV battery-cell producer, employing over 30

Key View

• New patent laws in China will bolster pharmaceutical innovation and incentivize research.
• Several multinational drugmakers will continue to position China as a key pillar of future growth.
• Risks undermine attractiveness for innovative drugmakers.

Chinese patent reforms will bolster pharmaceutical innovation. As of the 1 June

Key View

• We forecast real household spending in China to recover over 2021, growing by a projected 8.1% y-o-y, which is an improvement on the 1.5% contraction estimated for 2020.
• In 2021, total household spending (in real terms) will reach CNY30.0trn (USD4.5trn), which is higher than total spending of CNY27.2trn (USD3.9trn) reached in 2019

Key View

• The positive prospects in view of the progressive healthcare reforms will incentivise multinational drugmakers to invest in China.
• The pharmaceutical reforms will continue to improve access to and demand for medical services in China, boosting sales of innovative medicines.
• Market growth will remain on a low-growth trajectory due to

Key View

• We at Fitch Solutions see downside risks to our real GDP growth forecast of 8.5% for China in 2021, stemming from a surge in infections of the Covid-19 Delta variant and Beijing’s expanding regulatory clampdown on the tech sector especially.
• The government’s measures to contain the outbreak could prove less effective against the more