In the run-up to the Boao Forum for Asia Annual Meeting 2024 – the preeminent annual summit which brings together government leaders, senior officials and business executives – a significant meeting took place between a senior official from East China's Shanghai and a top executive from German pharma giant Merck KGaA.

Wang Ping, deputy secretary-general of the Shanghai municipal government, met with Merck China president Marc Horn in Boao town – where the forum is held each year – located in South China's Hainan province.

The meeting, which was also attended by Rui Wenbiao, director general of the Shanghai Intellectual Property Administration or SIPA, highlighted the city's efforts to create a market-oriented, law-based and international business atmosphere, with a special focus on IP protection.

Wang Ping conveyed Shanghai's commitment to maintaining a supportive policy framework and providing exceptional services to ensure that companies like Merck can thrive.

For his part, Merck’s Horn acknowledged Shanghai's unwavering support and progress in IP rights and confirmed his group's intention to deepen its roots in Shanghai and use the city as a central hub for its expansion in China.

Merck KGaA – a leading multinational company in healthcare, electronics and life sciences – employs more than 60,000 people in 66 countries, with China being a significant market.

Merck's long-standing presence in Shanghai dates back to 1933 when it established its first company in the city's Fairmont Peace Hotel. It now has six business units in Shanghai, which together employ 1,700 people.

In 2022, the businesses generated nearly 10 billion yuan ($1.38 billion) in combined sales and contributed nearly 700 million yuan in taxes.