Five international leading enterprises, including Bayer, Pfizer, and Sony, recently joined the Global Open Innovation Center (GOI) initiative, launched by Shanghai's Pudong New Area in July 2021.

This move underscores Pudong's growing appeal as a hub for multinational corporations (MNCs) seeking to expand their global market presence through "multi-chain" investment strategies encompassing production, supply, and innovation chains.

Bayer, a long-standing pharmaceutical MNC with substantial operations in China, has taken significant strides in integrating into the local biopharmaceutical innovation ecosystem. The China division of Bayer Co.Lab — a pioneering global network of life science incubators — was recently recognized as a GOI member and is poised to become a pivotal platform for fostering collaborations with local biotech startups.

Several Chinese biotech firms have already set up operations within Co.Lab China, leveraging its ecosystem to advance their innovative drug development efforts.

In addition to innovation chain investments, pharmaceutical MNC Novo Nordisk has established a modern warehousing center in Pudong, positioning the region as a strategic hub in its global supply chain. This initiative not only enhances Novo Nordisk's supply chain resilience in China but also strengthens its cross-border supply chain capabilities.

Pudong's commitment to fostering an open and innovative business environment, coupled with supportive policies, continues to attract MNCs seeking to expand their global footprint. With the GOI initiative now boasting over 100 members and empowering more than 6,000 enterprises, Pudong is solidifying its position as a global innovation hub.