03/03/2026 | Lisa Henderson | Informa Life Sciences/Bio Xconomy

https://www.bioxconomy.com/partnering/china-biotech-continues-its-growth-trajectory 

Yao Zhong, vice president general manager for ICON China Mainland and Hong Kong, discusses latest survey results on the Chinese biotech market.

Released late last year, ICON Biotech’s 2025 China biotech sector survey report offers insights into the country’s innovation, which has received even more attention over the past two years. According to the report, therapeutic innovation coming from China is eclipsing that of the US. Since ICON Biotech first conducted a global survey of biotech in 2023, China has overtaken the US in the number of clinical trials. 

Funding optimism

While eyes for innovation are on China, its funding sources are reported by respondents as follows: partnerships with large pharmaceutical organizations (59%), venture capital firms (49%), and government grants or public funding (36%). 

Also noted in the report was the overseas out-licensing of 93 Chinese products in the first eight months of 2025. 

Zhong noted that business confidence is based on a variety of factors including Government support through policies like the 14th Five-Year Plan for National Economic and Social Development, and the October 28, 2025, release of the 15th Five-Year Plan for National Economic and Social Development, both of which target biotechnology development. 

Zhong also pointed to the large unmet medical needs and population size in China, noting that companies with advanced technology platforms feel more confident. He said, “If one biotech company owns their advanced technology platform, definitely this gives them more confidence to attract investors’ interest to them.” 

Confidence can also be weighed by the level of innovation for that company. As Zhong said, “Some companies may have a best in class, or a fast follow, which leads to more business confidence.”

Clinical trials complexity

The number of clinical trials in China has increased, and, in fact, surpassed the US in the number of new drug clinical trials. In 2024, registered trials in China were 5.6% above the US, according to WHO’s International Clinical Trials Registry Platform. 

However, like the rest of the world, the complexity of clinical trials is notable in this survey. Drug development complexity was ranked as the largest operational risk to China biotech organizations, with more than a third of respondents (35%) ranking it as the biggest risk. Additionally, 78% of respondents overall ranked it in their top five risk factors. This was followed by 58% of respondents who cited the lack of in-house experience executing clinical studies.

Although China is developing faster pathways for review and approval of clinical trials for innovation drugs, the trials themselves remain complex. Zhong told us that trials are more complex due to factors such as technology development; regulatory compliance and adherence to local laws and protocols; coordination among various vendors, sites, and personnel; and talent attraction and retention.

Talent

Like other companies in many other industries, AI is a “hot button in China as well,” said Zhong, with the government encouraging AI application, development, and implementation. Zhong said AI is primarily used in the drug discovery stage, with limited application in clinical trials due to challenges like fragmented data sources and data privacy concerns.

Higher education reforms aim to train cross-discipline talents, said Zhong, such as “AI plus pharma talents,” which are increasingly important due to the rise of AI.

In addition to higher education efforts, venture capitalists in the report also noted returning talent to China is significant, which will play a crucial role in drug innovation. 

The ICON Biotech 2025 China biotech sector survey report was based on 100 survey respondents based in China representing small pharma/biotech, mid-size pharma/ biotech, or large biotech organizations. Respondent demographics included 68% director level or higher; 62% biotech decision-makers; 54% mid-sized pharma/biotech; and 35% in clinical operations development.