Morgan Stanley's Xing Ziqiang: 2040 will witness the DeepSeek moment in China's pharmaceutical industry

Morgan Stanley's chief economist for China, Xing Ziqiang, pointed out that China is making breakthroughs in the field of technological innovation, showing a "vast and profound" potential. Three core advantages are industrial chain clusters, the dividend of STEM talent, and a huge market size, which are difficult to be replicated by other economies. He also mentioned that China leads the global penetration rate of smart driving and the biopharmaceutical industry is experiencing explosive growth. "We estimate that by 2040, more than one-third of the new innovative drugs approved by the US FDA will come from China. This is also a 'DeepSeek moment' for the Chinese pharmaceutical industry."