Zhu Renchen, chairman of Fu Jen Pharmaceuticals, maintains a 20% growth rate in the pharmaceutical industry

Hexun: Hello everybody! Here is the report sent by Hexun from the 11th member congress of the Federation of Industry and Commerce. Zhu Wenchen, chairman of Fu Jen Pharmaceutical Group, answered questions and asked questions about the industry and business development in 2013.

Hello Zhu! We know that the Chinese economy has experienced rapid growth of more than 10% for 20 years, and this year has seen a decline. The market generally expects that the Chinese economy will have bottomed out in the third quarter and will stabilize and pick up in the fourth quarter. Have you felt from a business perspective? this process?

Zhu Wenchen: We have fully felt it. After decades of development, the Chinese economy should be an inflection point this year. That is, we are now raising more points that are urgently needed to change the mode of economic development because our original economic development depends on the large structure of the troika. However, in the current investment, export, consumption, and troika, the export international market has been greatly affected. Investment in the country is still more cautious. The main focus is on expanding domestic demand. To expand the conditions for domestic demand, we should transfer to the new troika, that is, China’s urbanization, assetization, and financialization. From these three aspects, through urbanization, domestic demand will be expanded, and farmers will be transformed into urban citizens. The producers become consumers. The consumption of a city citizen is several times larger than the consumption of a farmer. This is a very potential aspect. However, this aspect alone is not enough. We must securitize all our corporate assets. This will enable companies to become shareholding systems that can be circulated and traded in the market, so that assets can quickly increase in value.

Hexun: As far as the pharmaceutical industry you are engaged in is also a sub-industry for large consumption, what is your expectation of growth in the pharmaceutical industry in the next few years?

Zhu Wenchen: The growth of the pharmaceutical industry is higher than the average growth rate of our national economy. It is much higher, even more than doubled.

Hexun: Do you mean to achieve a 15% growth rate?

Zhu Wenchen: There is no problem with 20%. Because the pharmaceutical industry along with the country's medical insurance, including the people's needs for health, this market expansion is very large, this market capacity is very large, giving enterprises a great opportunity.

Hexun.com: Will our companies continue to grow by more than 20%?

Zhu Wenchen: Yes, our company is in a rising period. The minimum requirement is to maintain more than 20%.