As a result, patients are experiencing poor or delayed access to the latest medicines sue to regulatory and reimbursement hurdles. That said, we're glad to see the Chinese authorities have issued a series of new policies to address this "drug lag," such as encouraging international, multicentered clinical trial applications and supporting simultaneous native and international clinical trials.

In addition, we're also facing multiple market access challenges, including inconsistent policies in different provinces regarding provincial bidding and hospital level price negotiations. This presents a huge challenge for patients to get access to quality medicines.

Chinese companies have been looking at the US for investment opportunities as they increase their global footprint. What cultural and social issues do they face, and how would you deal with those issues?

Cultural differences can be seen as either a deterrent or an opportunity when considering cross-border investment.

As a global company, Pfizer looks at unique ways to leverage the expertise of our culturally diverse community to achieve shared goals wherever we operate. Our diversified and inclusive corporate culture encourages communication and mutual understanding, which are key to the success of any company.