Rani Jarkas: Cross-border innovation and investment in China’s life science industry

As China’s economy continues to surge and move up the product cycle, the country is on track to become a global leader in life sciences innovation and manufacturing. Foreign firms, which hold a 30 percent share of the local market, are rapidly expanding their biotech investments in China – in manufacturing, joint ventures, and R&D — yet they continue to face many challenges.

With the recently announced positive regulatory and compliance policy reforms, China’s life science industry is set to boom. Released in March 2016, China’s thirteenth Five-Year Plan reinforces the country’s focus on “innovative development” with additional emphasis on “biological technology.”

Besides domestic innovation, entrepreneurs in the field have also created cross-border business models, including investments in global clinical stage candidates and international collaborations for the best efficiency.

China continues to be a hotbed for partnering activity, more than doubling in 2015 to over US$4 billion in total announced deal value. Traditionally, Chinese partners tend to contribute heavily on infrastructure and other local resources performing a more “CRO-oriented” role. However, there has also been a rise in Chinese biotechs with truly innovative drug candidates that have attracted the attention of foreign pharms.

Cross-border partnership is developing a network across academics, business and clinicians to drive innovation in China’s healthcare industry. The ultimate objective is to improve treatments, diagnoses and quality of life for patients in China but will also lead to a huge number of business opportunities and will develop China’s capabilities as an innovation destination.


Rani Jarkas, Chairman of Cedrus Investments, an investment pioneer with years of experience in biotech and life science sector, said, “China’s pursuit of a domestic life science sector will benefit the Chinese people, local entrepreneurs, and multinationals who are hungry to identify solutions designed to reflect China’s unique healthcare challenges.”

王雷（Rani Jarkas）：中国生物科技产业的跨境创新和投资

随着中国经济持续飞速发展，并在产品周期循环内向上移动，整个国家正在成为生命科学创新和生产领域的全球领导者。外国公司在本土市场占到约30%，也正在加速在中国的生物科技投资——在生产、合资企业和科研方面——但目前也仍然面临许多挑战。

中国近期公布了有利的监管和合规政策改革，推动了生命科学产业的蓬勃发展。2016年3月发布的中国“十三五”计划，再次强调了国家的重心是在“创新发展”，格外关注“生物科技”。

除了国内的创新，该领域的企业家们也开创了众多跨境交易模式，包括投资全球临床阶段产品和全球合作，以期获得最佳的效果。

中国继续成为合作活动的热点地区，2015年的交易额翻了一番，达到了40亿美元。传统意义上，中国合作者通常主要贡献在基础设施和其他当地资源，更多地担任了“临床研究机构”的角色。然而，中国的生物科技领域出现了一批真正的创新药物产品，吸引了国际药企的关注。

跨境合作正在学术研究机构、商业和临床医生间建立起网络，推动中国医疗产业的创新。最终的目标是提高中国的治疗、诊断和病人生活质量，但同时也会创造出数量庞大的商业机会，发展中国成为创新集聚地的能力。

赛德思投资董事长王雷（Rani Jarkas）在生物科技领域有多年的投资经验。他表示：“中国对国内生命科学产业的追求将造福于中国人民、本土企业以及那些公司渴望寻找到中国医疗独特挑战解决方案的跨国公司。”

王雷（Rani Jarkas）：中国税收改革的影响不仅仅是降低税负压力

自5月1日生效以来，中国完成了广泛“营改增”税制改革的最后一步，从先前的试点项目拓展到覆盖剩余的金融、服务、房地产和建筑行业。作为改革中国财政制度的努力之一，营改增最初于2012年在上海试点。从2013年起，该项目拓展到众多省份和直辖市以及不同行业，包括铁路、邮电和一部分服务行业。

中国财政部副部长史耀斌表示，此次改革的目的在于降低公司税收负担，预计97%的纳税者将节约税负超3万亿人民币。

李克强总理今年5月19日在演讲中提到，营改增的实施应确保降低所有行业企业的税负压力。早在此前，他就敦促应采取坚实的措施推行改革，确保全面降低税负。国家税务总局局长王军也向媒体表示政府已经制定相关政策确保平稳转变。

短期来看，政府将可能面临财政收入减少，预计到2016年底公司税收减免将达5万亿元，约为773亿美元。然而长期来看，该改革推动经济结构性改革，特别是供方改革，实现了政府和企业的双赢。

国家税务总局副局长王军汪康总结营改增对中国经济发展的意义远不仅是减轻税收负担。在所有产业推广税收改革将鼓励服务产业的发展，支持经济转型和产业升级，调动公司积极性，特别是在科技、电信、媒体、生物医药这些高度依赖创新创业精神的产业。

赛德思投资董事长王雷（Rani Jarkas）先生在亚洲拥有多年的金融从业经验，他表示：“营改增将巩固目前的经济表现，使得市场起决定性作用，最终保持未来发展势头。我们相信改革将帮助中国实现其经济可持续发展和政治稳定的目标，对国际公司更具吸引力。”

Rani Jarkas: The Impact of China’s Tax Reform Will Go Beyond Tax Reduction

Effective as of May 1, China completed the last step in its extensive business tax to VAT reform by extending the previous pilot programs to cover the remaining sectors of finance, services, property and construction. As part of the efforts to reform China’s state-centric fiscal system, VAT reform was first introduced in 2012 as a trial program in Shanghai. Since 2013, the program has been expanded to several other municipalities and provinces and applied to various sectors, including railways, postal services, telecommunications and certain service industries.

The reform was initiated with the aim to reduce the tax burden of businesses, with an estimated 97 percent of tax payers to pay less tax with savings of over RMB 300 billion, according to Shi Yaobin, Vice Minister of Finance.

Premier Li Keqiang said in Beijing on May 19, 2016 that implementation of the VAT reform should ensure that the tax burden is reduced for firms across all sectors. Long before that, he has urged solid efforts to deliver the reform and pledged lower taxes across the board. Wang Jun, Chief of the State Administration of Taxation (SAT) has affirmed to the press that the government has formulated associated policies to support the smooth transition.

In the short term, the government may face a cut on fiscal income, as it is estimated to be about 500 billion yuan, or 77.3 billion U.S. dollars of tax cut for corporations by the end of 2016. While in the long term, this reform pushes forward structural reforms, especially supply-side reforms, realizing a mutual benefit for both the government and enterprises.

Wang Kang, Deputy Director of the State Administration of Taxation concluded that the business-tax-to-VAT reform has far more significance on China’s economic development than just simply reducing the tax burden. Expanding VAT reform across all industries will encourage the development of the service sector, support economic transformation and industry upgrading, and mobilize the initiative of companies, especially in sectors that highly rely on innovation and entrepreneurship like TMT and life science industries.

Rani Jarkas, Chairman of Cedrus Investments, who is an investment pioneer with years of financial experience in Aisa, said, “The business-tax-to-VAT reform will reinforce the current performance of the economy, allow the market to play a decisive role, and eventually sustain momentum of its future development. We believe the reform will help China achieve its goals of economic sustainability and political stability, becoming more attractive to international companies.”

China ushers in landmark tax reform to prop up economy

...economy, allow the market to play a decisive role, and eventually sustain momentum of its future development," said Rani Jarkas, chairman of Hong Kong-headquartered financial services firm Cedrus Investments. Starting from May 1, the VAT replaced…
China Daily | Xinhua | The State Council of PRC | China.org.cn | People.cn | Souhu | ICBC | BeijingReview | Ecns.cn | CCTV

Reduced Tax Burden on Business will Benefit Foreign Firms as well as Domestic Enterprises

The overall tax burden on enterprises operating in China is lower as a result of the VAT reform fully implemented yesterday. Experts said that while many businesses in the service sectors directly benefit from it, a host of manufacturing companies are also now better off as their purchased services are now deductible......Jarkas, of Cedrus Investments added:"As China grows in power and influence with an ever expanding market, the country has become more attractive to start-ups."
Daily Telegraph | Xinhua | Global Times | Sina | China.org.cn | New China | NewsGD

天能石油将从“一带一路”沿线国家对中国提供油气供给

新华网上海４月２２日电（记者王琳琳）天能石油有限公司（以下简称“天能石油”）近日在上海发布消息称，公司将于２０１６年起从俄罗斯东西伯利亚地区、塔吉克斯坦、格鲁吉亚等“一带一路”沿线国家和地区，对中国东北、环渤海和长三角区域提供石油和天然气供给。


经济参考报（纸媒）：http://dz.jjckb.cn/www/pages/webpage2009/html/2016-04/25/node_7.htm
人民网：http://sh.people.com.cn/n2/2016/0423/c134768-28207045.html
新华网：http://www.sh.xinhuanet.com/2016-04/22/c_135302908.htm
经济参考：http://jjckb.xinhuanet.com/2016-04/25/c_135308145.htm
新浪财经：http://finance.sina.com.cn/roll/2016-04-25/doc-ifxrprek3198501.shtml
今日头条：http://toutiao.com/i6276212039828374017/
中新网：http://www.chinanews.com/ny/2016/04-25/7846460.shtml
搜狐：http://business.sohu.com/20160425/n445911646.shtml
中国网：http://news.china.com.cn/live/2016-04/25/content_35901210.htm
中国经济网：http://www.ce.cn/cysc/ny/gdxw/201604/25/t20160425_10811637.shtml
东方财富网：http://finance.eastmoney.com/news/1356,20160425617852911.html
中国青年网：http://finance.youth.cn/finance_jsxw/201604/t20160425_7906290.htm
中国能源网：http://www.china5e.com/news/news-941213-1.html
中国科技网：http://www.wokeji.com/lvse/cy/201604/t20160425_2457111.shtml

澳大利亚证券交易所公告天能石油有限公司在澳大利亚证券交易所开始交易

澳大利亚，悉尼，2016年4月21日——天能石油有限公司（前身为“MUICorporationLimited”）（澳大利亚证券交易所代码：SKP）（简称“天能”或“公司”）将于今天上午十点整在澳大利亚证券交易所（简称“澳交所”）开始交易，在早前对天能石油集团公司（简称“SPG”）进行的反向收购中，公司已完成融资1,425万澳元，超过最低认购额。


中国产业信息网：
http://www.cinic.org.cn/site951/hwcj/2016-04-21/819122.shtml
新浪：
http://nmg.sina.com.cn/industry/yaowen/2016-04-21/135185983.html
财经新闻网：
http://www.chnews.net/cjyw/jygl/201604/114878.html
投资中国：
http://invest.china.com.cn/quyu/2016/zhihuichengshi_0421/53073.html
中国企业报道：
http://www.ceccen.com/qiyexinwenfabuhui/1461220270.html