China’s Pharmaceutical Stocks Surge After 15th Five-Year Plan Sets 2030 Innovation Targets
On September 21, Chinese A-share markets rose broadly, with the Shanghai Composite up 0.97% and over 4,500 stocks advancing. The pharmaceutical sector led gains after ten government departments released the "15th Five-Year Plan for Pharmaceutical Industry Development" on September 18, positioning biomedicine as a national pillar industry and setting targets including 25% global share of first-in-class drugs by 2030. Multiple biotech and pharma stocks hit daily trading limits, while small-cap stocks outperformed large-caps. Trading volume narrowed to 2.03 trillion yuan amid pre-holiday caution.
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Chemical Pharmaceutical Sector Surges with 8 Stocks Hitting Daily Limit; Shi Lianxing Extends to 4 Consecutive Limit-Ups
On September 21, China's A-share market saw broad gains with the Shanghai Composite Index rising 0.97%, the Shenzhen Component Index up 0.65%, and the ChiNext Index up 0.80%. Total turnover reached 2.03 trillion yuan, down 45.6 billion yuan from the previous session. There were 104 stocks hitting the daily limit up and 3 hitting the limit down. The chemical pharmaceutical sector led with 8 stocks hitting the daily limit, followed by medical services and chemical products with 5 each. The rally was driven by the September 18 release of the '15th Five-Year Plan for Pharmaceutical Industry Development' by ten Chinese government departments, which for the first time positions the biomedical industry as a 'national emerging pillar industry' and sets quantitative targets including an average annual growth rate of no less than 20% for the innovative drug industry and a global share of first-in-class drugs of no less than 25%. Guoxin Securities forecasts that the pharmaceutical industry will maintain steady revenue growth in the first half of 2026, with double-digit profit growth and further acceleration in Q2 2026. The innovative drug sector reported revenue of 43.75 billion yuan, up 44.1% year-on-year, and net profit of 7.51 billion yuan, continuing high growth. The CXO sector reported revenue of 55.62 billion yuan, up 23.3%, and net profit of 13.05 billion yuan, up 15.7%. Additionally, on September 21, the National Medical Products Administration and the General Administration of Customs announced a pilot program for electronic import drug clearance at Beijing ports.
Read sourceChina A-Share Market Rises on Drug Policy Support; Analysts See Cautious Outlook
On September 21, China's A-share market saw broad gains, with the Shanghai Composite Index rising 0.97%, the Shenzhen Component Index up 0.65%, and the ChiNext Index gaining 0.8%. Total market turnover reached 2.0481 trillion yuan, slightly down from the previous session, with over 4,500 stocks advancing. The pharmaceutical sector led the rally, particularly innovative drugs and CRO (contract research organization) stocks, following supportive policy announcements. On September 20, the National Medical Products Administration stated that 59 innovative drugs and 51 innovative medical devices have been approved this year, with further support planned. Additionally, a ten-department '15th Five-Year Plan' for the pharmaceutical industry and a new pricing pilot for high-tech medical services were announced. Analysts offered mixed forecasts: Zhongtai Securities sees resources concentrating on innovative drug firms; Guosen Securities expects a gradual, structural rebound amid holiday effects; Galaxy Securities predicts continued volatility; Bank of China International Securities anticipates short-term consolidation with a Q4 rebound; and Huatai Securities notes narrowing opportunities with a neutral tone. The article includes a disclaimer that it does not constitute investment advice.
Read sourceA-Share Rally: 105 Stocks Hit Daily Limit, Drug and Liquor Sectors Surge, Kylin Instrument Drops 5%
On September 21, A-share markets rose with the Shanghai Composite up 0.97%, Shenzhen Component up 0.65%, and ChiNext up 0.8%. Over 4,500 stocks advanced and 105 hit daily trading limits, driven by small-cap and micro-cap stocks. The pharmaceutical sector led gains after China's Ministry of Industry and Information Technology and nine other departments jointly issued the 'Fifteenth Five-Year Plan for Pharmaceutical Industry Development' on September 18, calling for AI, quantum computing, and supercomputing to empower drug R&D. The National Medical Products Administration on September 20 also pledged support for large-scale, intensive, and high-end pharmaceutical development. Consumer, tourism, and liquor sectors also rose on pre-holiday positioning. However, high-priced stocks, tech stocks, and institutional favorites underperformed: Kylin Instrument fell over 5%, and the STAR 50 index turned negative intraday. CITIC Securities noted that non-institutional stocks often see new highs after institutional stocks peak in late-stage industrial super-cycles, and recommended AI-related sectors including optical communication, PCB, advanced packaging, wafer manufacturing, and gas turbines. Huatai Securities cautioned that pre-National Day effects and weak economic data limit upside, favoring tech, innovative drugs, and chemicals with dividend stocks as core holdings.
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A-Stock Rally with 105 Limit-Up Stocks; Kweichow Moutai Falls Over 5% Amid Pre-Holiday Rotation
On September 21, Chinese A-shares saw broad gains with over 4,500 stocks rising and 105 hitting daily limit-ups, though the rally was concentrated in small-cap stocks. The benchmark Shanghai Composite rose 0.97%, while the ChiNext gained 0.8%. The 'king of stocks' Kweichow Moutai fell over 5%, highlighting a rotation away from high-priced, institutional-favored stocks toward small-caps. The pharmaceutical sector led gains following the release of the 15th Five-Year Plan for pharmaceutical industry development by ten ministries, which promotes AI, quantum computing, and advanced manufacturing in drug R&D. Consumer and tourism stocks also rose on pre-holiday positioning. CITIC Securities forecasts that Chinese innovative drug companies are entering a global value realization phase. Huatai Securities maintains a cautious view, citing weak domestic economic data and pre-holiday caution, expecting a rebound rather than a trend reversal. The article notes historical patterns of pre-National Day holiday trading, including volume contraction of 10-27% in four of the past five years.
Read sourceA-Stock Rally with 105 Limit-Up Stocks; Kweichow Moutai Falls Over 5%
On September 21, Chinese A-shares saw broad gains with the Shanghai Composite Index rising 0.97%, the Shenzhen Component Index up 0.65%, and the ChiNext Index up 0.8%. Over 4,500 stocks advanced, with 105 hitting the daily limit-up, while the total turnover fell to 2.03 trillion yuan, down 45.6 billion from the previous session. The market entered a 'pre-holiday trading period' ahead of the Mid-Autumn Festival and National Day holidays. Small-cap stocks led gains, with the micro-cap index rising over 3% and the CSI 2000 up over 2%, while high-priced stocks, tech stocks, and institutional holdings underperformed. The pharmaceutical sector surged following a joint policy announcement by ten ministries on September 18 regarding the '15th Five-Year Plan' for pharmaceutical industry development, which promotes AI, quantum computing, and other technologies in drug R&D. The National Medical Products Administration also pledged support for industry scaling and internationalization. Consumer and tourism stocks gained on holiday expectations. Citic Securities noted that innovative drug companies are entering a global value realization phase. Huatai Securities warned that market upside is limited due to weak economic data and pre-holiday caution, maintaining a view of a rebound rather than a trend reversal. The article also cited Citic's view that non-institutional stocks may see new highs after institutional stocks peak, with AI potentially regaining dominance.
Read sourcePharmaceutical Stocks Surge in China on Policy Support and Innovation Drive
On September 21, Chinese pharmaceutical stocks experienced a surge, with multiple sectors including chemical drugs, medical services, and AI-driven pharmaceuticals seeing limit-up moves. Notable stocks such as Harbin Pharmaceutical Group hit the daily limit with over one million buy orders at the top of the order book. The rally followed two key policy events: on September 20, the State Council Information Office held a press conference where National Medical Products Administration Deputy Director Yang Sheng pledged to prioritize review resources to accelerate the market approval of innovative drugs and medical devices that are 'Made in China, New to the World.' On September 18, the Ministry of Industry and Information Technology and nine other departments released the '15th Five-Year Plan for Pharmaceutical Industry Development,' setting a target for China's biomedical R&D and application to rank among the world's top by 2030, with breakthroughs in key core technologies. Analysts at Industrial Securities maintained that 'innovation and internationalization' remain the core theme for the pharmaceutical sector, citing sustained global competitiveness of domestic innovative drugs and unchanged industry logic of policy support, overseas expansion, and commercialization profitability.
Read sourceChina A-Share Midday: Shanghai Composite Up 0.55%, Pharma Stocks Surge on Policy Support
On September 21, China's A-share markets opened higher and maintained gains through midday, with the Shanghai Composite rising 0.55% to 3933.37, the Shenzhen Component up 0.57% to 13718.23, and the ChiNext Index gaining 0.93% to 3403.97. Over 4,300 stocks advanced while more than 1,000 declined, with total half-day turnover across Shanghai, Shenzhen, and Beijing reaching 1.339 trillion yuan, up 10.3 billion from the prior session. The medical and pharmaceutical sector led the rally, driven by two policy catalysts: a September 18 State Council executive meeting that outlined a medical rehabilitation and nursing capacity expansion program, and a September 18 joint release by the Ministry of Industry and Information Technology and other agencies of the 'Fifteenth Five-Year Plan for Pharmaceutical Industry Development,' which targets 3.5 trillion yuan in revenue for large-scale pharmaceutical firms by 2030 and a 25% global share for first-in-class new drugs. Sub-sectors including medical services, CRO, innovative drugs, and chemical drugs surged, with multiple stocks hitting daily limits. In contrast, home appliances, precious metals, and insurance sectors declined, as funds rotated out of defensive positions. The report also noted gains in film and PCB sectors, supported by holiday box office expectations and price hikes in electronic-grade glass fiber.
Read sourceBiotech, Pharma, CRO Stocks Surge; Novogene Hits 20% Daily Limit on Policy Boost
On September 21, A-share major indices rose, with the Shanghai Composite up 0.43%, Shenzhen Component up 0.79%, and ChiNext up 1.24%. The biotech, pharmaceutical, and CRO sectors led gains, with Novogene (Novogene) hitting the 20% daily limit up. South China Biological achieved a three-day consecutive limit-up. The rally was attributed to a policy catalyst: on September 18, ten Chinese government departments, led by the Ministry of Industry and Information Technology, jointly issued the 'Fifteenth Five-Year Plan for the Development of the Pharmaceutical Industry.' The plan sets a target that by 2030, China's biomedical R&D and application will firmly rank among the world's top, with innovation-driven efficiency fully released and key core technologies in key areas achieving systemic breakthroughs. Other gainers included JET Bio-Filtration, Tellgen, and Novoprotein. In contrast, sectors such as home appliances, engineering machinery, and semiconductor equipment declined. Hong Kong markets also rose, with Baidu, Alibaba, and Tencent each gaining over 2%.
Read sourceChina A-shares rise in morning trade; biotech, memory chips surge; Hang Seng Tech reverses gains
On September 21, China's A-share markets opened higher, with the Shanghai Composite up 0.50%, Shenzhen Component up 0.80%, and the ChiNext Index up 1.29% as of writing. The biotech sector led gains, with CRO, innovative drugs, weight-loss drugs, and gene testing concepts surging. Memory chip stocks strengthened, driven by Changxin Technology's 5% rise after announcing its fifth-generation technology platform mass production with over 50% wafer output improvement. Other active sectors included aerospace, defense, catering, tourism, and retail. Hong Kong markets showed divergence: the Hang Seng Index edged up 0.51%, while the Hang Seng Tech Index reversed early gains to turn negative. The Hang Seng Biotech Index surged nearly 5%. In bond markets, treasury futures rose modestly. Commodity futures mostly advanced, with pulp up 3%, while crude oil plunged 6%. The rally was supported by a policy catalyst: on September 18, ten Chinese ministries including MIIT jointly issued the 'Fifteenth Five-Year Plan for Pharmaceutical Industry Development,' which promotes AI, quantum computing, and computational medicine in drug R&D.
Read sourceA-Share Midday Review: Shanghai Composite Rises 0.55%, Medical Sector Leads with Surge in Limit-Up Stocks
On September 21, A-share indices opened higher and maintained gains through midday trading, with the Shanghai Composite up 0.55% to 3933.37, the Shenzhen Component up 0.57% to 13718.23, and the ChiNext up 0.93% to 3403.97. Over 4,300 stocks rose, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion from the previous session. The medical sector led gains, driven by two policy catalysts: a State Council executive meeting on September 18 announced a medical rehabilitation and nursing capacity expansion project, and on the same day, the Ministry of Industry and Information Technology and nine other departments released the 'Fifteenth Five-Year Plan for Pharmaceutical Industry Development,' targeting 3.5 trillion yuan in revenue and 25% global share of first-in-class drugs by 2030. Medical services, CRO, and innovative drug stocks surged, with multiple stocks hitting daily limits. Capital flows showed net inflows of over 54 billion yuan into the medical sector, while semiconductors, electronics, and electrical equipment saw outflows. Other notable movers included film and PCB stocks, while home appliances and precious metals declined.
Read sourceA-Share Midday Review: Shanghai Composite Rises 0.55%, Medical Sector Leads with Surge in Limit-Up Stocks
On September 21, A-share indices opened higher and maintained gains through midday trading, with the Shanghai Composite up 0.55% to 3933.37, the Shenzhen Component up 0.57% to 13718.23, and the ChiNext up 0.93% to 3403.97. Over 4,300 stocks rose, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion from the previous session. The medical sector led gains, driven by policy catalysts: a State Council executive meeting on September 18 announced a medical rehabilitation and nursing capacity expansion project, and on the same day, the Ministry of Industry and Information Technology and nine other departments released the 'Fifteenth Five-Year Plan for the Pharmaceutical Industry', targeting 3.5 trillion yuan in revenue by 2030 and 25% global share for first-in-class drugs. Medical services, CRO, innovative drugs, and chemical pharmaceuticals surged, with multiple stocks hitting daily limits. Other gainers included film and television stocks, supported by National Day holiday film releases and a cultural industry plan, and PCB concept stocks, boosted by price hikes from China Jushi. Defensive sectors like home appliances, precious metals, and insurance saw fund outflows. Main funds net inflow into medical, communications, and chemical pharmaceuticals exceeded 54 billion yuan, while semiconductors and electronics saw net outflows.
Read sourceA-share midday review: Shanghai Composite up 0.55%, medical sector sees surge in limit-up stocks
On September 21, A-share indices opened higher and maintained red震荡, with the ChiNext index leading gains. By midday, the Shanghai Composite rose 0.55% to 3933.37, Shenzhen Component gained 0.57% to 13718.23, and ChiNext added 0.93% to 3403.97. Over 4,300 stocks rose while more than 1,000 fell, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion from the previous session. Main capital flows showed net inflows into medical, communications, and chemical pharmaceutical sectors, with medical sector net inflow exceeding 5.4 billion yuan, while outflows hit semiconductor, electronics, and new energy sectors. The medical services and CRO concept sectors led gains, driven by a State Council executive meeting on September 18 deploying medical rehabilitation and nursing capacity expansion. The innovative drug sector surged following the release of the 'Fifteenth Five-Year Plan' for pharmaceutical industry development by ten ministries on September 18, targeting 3.5 trillion yuan in revenue and 25% global share of first-in-class drugs by 2030. The film and television sector rose on National Day holiday film lineup announcements and a cultural industry development plan. PCB concept stocks strengthened on price hikes by China Jushi and other upstream suppliers.
Biotech, Pharma, CRO Stocks Surge; Novogene Hits 20% Daily Limit on Policy Boost
On September 21, Chinese A-share markets saw a broad uptick, with the Shanghai Composite Index rising 0.43%, the Shenzhen Component Index up 0.79%, and the ChiNext Index gaining 1.24%. The biotechnology, pharmaceutical, and CRO (contract research organization) sectors led gains, with Novogene (Novogene Co., Ltd.) hitting the 20% daily trading limit. Other notable gainers included Nanhua Bio, which rose for a third consecutive day, and JET Bio, Tellgen, and Novoprotein. The rally was attributed to a policy announcement on September 18, when ten government departments including the Ministry of Industry and Information Technology jointly issued the 'Fifteenth Five-Year Plan for the Development of the Pharmaceutical Industry.' The plan sets a target for China to become a world leader in biomedical R&D and application by 2030, with a focus on achieving systemic breakthroughs in key core technologies. Hong Kong markets also rose, with Baidu, Alibaba, and Tencent each gaining over 2%.
Read sourceA-Share Midday Review: Shanghai Composite Rises 0.55%, Medical Sector Leads with Surge
On September 21, A-share indices opened higher and maintained red-chip trading, with the ChiNext Index outperforming. By midday, the Shanghai Composite rose 0.55% to 3933.37, the Shenzhen Component gained 0.57% to 13718.23, and the ChiNext added 0.93% to 3403.97. Over 4,300 stocks advanced, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion from the prior session. Main capital flows favored medical, communications, and chemical pharmaceuticals, while semiconductors and electronics saw outflows; the medical sector alone attracted over 54 billion yuan. Leading sectors included medical services, CRO concepts, innovative drugs, and biotech, driven by a September 18 State Council executive meeting decision to expand rehabilitation and long-term care services, and a ten-department 'Fifteenth Five-Year Plan' for the pharmaceutical industry targeting 3.5 trillion yuan in revenue by 2030 and 25% global share for first-in-class drugs. Other gainers included film and PCB sectors, while home appliances and precious metals lagged.
Read sourceChina Biotech Stocks Surge; Novogene Hits 20cm Limit-Up on Pharma Plan
On September 21, Chinese A-share major indices rose, with the Shanghai Composite up 0.43%, the Shenzhen Component up 0.79%, the ChiNext up 1.24%, and the Sci-Tech Composite up 0.50% as of press time. The biotechnology, pharmaceutical, and CRO sectors led gains, with Novogene (stock code 688315) hitting a 20cm limit-up. Other gainers included Nanhua Bio, Jet Bio, Tellgen, and J&Y Protein. The rally followed the September 18 release of the '15th Five-Year Plan for Pharmaceutical Industry Development' jointly issued by the Ministry of Industry and Information Technology and nine other departments. The plan sets a target for China's biomedical R&D and application to rank among the world's top by 2030, with full release of innovation-driven efficiency and systematic breakthroughs in key core technologies in critical areas. Hong Kong markets also rose, with Baidu, Alibaba, and Tencent each gaining over 2%.
Read sourceA-Share Midday Review: Shanghai Composite Rises 0.55%, Medical Sector Surges with Limit-Up Stocks
On September 21, A-share markets opened higher and maintained red震荡, with the ChiNext Index outperforming. By midday, the Shanghai Composite rose 0.55% to 3933.37, the Shenzhen Component gained 0.57% to 13718.23, and the ChiNext added 0.93% to 3403.97. Over 4,300 stocks advanced while more than 1,000 declined, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion from the previous session. Main capital flows showed net inflows into medical, communications, and chemical pharmaceuticals, while semiconductors, electronics, and electrical equipment saw outflows; the medical sector alone attracted over 54 billion yuan. The medical services and CRO concept sectors led gains, driven by a State Council meeting on September 18 that announced a medical rehabilitation and nursing capacity expansion project. The innovative drug sector surged following a September 18 joint ministry plan targeting 3.5 trillion yuan in revenue and 25% global share of first-in-class drugs by 2030. Other gainers included film and PCB concept stocks, while home appliances and precious metals lagged.
Pharmaceutical Stocks Surge in China on Policy Support for Innovation and 15th Five-Year Plan
On September 21, Chinese pharmaceutical and biotech stocks surged, with shares of companies like Novogene, Baihua Pharmaceutical, Aoyang Health, Nanhua Bio, Shenqi Pharmaceutical, Xinhua Pharmaceutical, and Harbin Pharmaceutical (600664) hitting daily trading limits. The rally followed two key policy events. On September 20, the State Council Information Office held a press conference on the 15th Five-Year Plan period for market regulation, where National Medical Products Administration (NMPA) Deputy Director Yang Sheng stated that the agency would concentrate the best review resources to support innovative drugs and medical devices that are 'Made in China, New to the World.' On September 18, the Ministry of Industry and Information Technology and nine other departments released the '15th Five-Year Plan for the Development of the Pharmaceutical Industry,' setting a target for China's biomedical R&D and application to rank among the world's top by 2030, with breakthroughs in key core technologies. Analysts at Industrial Securities noted that the global competitiveness of China's innovative drug sector continues to strengthen, supported by policy backing, overseas expansion, and the realization of commercial profits.
Read sourceA-Stock Rally with 105 Limit-Up Stocks; Kweichow Moutai Falls Over 5% Amid Pre-Holiday Trading
On September 21, China's A-share market saw a broad rally with over 4,500 stocks rising and 105 hitting the daily limit-up, while the benchmark Shanghai Composite Index gained 0.97%. However, the rally was uneven: high-priced stocks, tech stocks, and institutional favorites underperformed, with 'stock king' Kweichow Moutai falling over 5%. The market entered a 'pre-holiday game period' ahead of the Mid-Autumn Festival and National Day holidays, with trading volume shrinking to 2.03 trillion yuan, down 45.6 billion from the previous session. The pharmaceutical sector led gains, boosted by a September 18 policy plan from ten ministries including the Ministry of Industry and Information Technology, which called for accelerating AI application in the industry, and a September 20 statement from the National Medical Products Administration supporting industry scale-up and internationalization. CITIC Securities forecast that innovative drug companies may enter a period of global value realization. Consumer and tourism sectors also saw pre-holiday speculative interest. Historical data shows pre-holiday volume shrinkage occurred in four of the past five years, with 2025 volume down 11.2% from the baseline period. CITIC Securities also noted that in the late stage of an industrial super-cycle, institutional stocks typically peak before a round of non-institutional stock rallies, and recommended focusing on AI, semiconductor manufacturing, gas turbines, energy chemicals, and leading brokerages with overseas potential.
Read sourceA-Share Midday Review: Shanghai Composite Up 0.55%, Medical Sector Leads with Surge in Limit-Up Stocks
At midday on September 21, A-share indices opened higher and maintained gains, with the Shanghai Composite rising 0.55% to 3933.37, the Shenzhen Component up 0.57% to 13718.23, and the ChiNext Index gaining 0.93% to 3403.97. Over 4,300 stocks advanced while more than 1,000 declined. Half-day turnover across Shanghai, Shenzhen, and Beijing reached 1.339 trillion yuan, up 10.3 billion from the previous session. Main funds saw net inflows into medical, communications, and chemical pharma sectors, with medical alone attracting over 54 billion yuan, while outflows hit semiconductors, electronics, and electric power equipment. The medical services and CRO concept sectors led gains, driven by a State Council meeting on September 18 that approved a plan to expand rehabilitation and long-term care services to community and home settings. The innovative drug sector surged following the release of the '15th Five-Year Plan for Pharmaceutical Industry Development' by the Ministry of Industry and Information Technology and nine other departments on September 18, targeting 3.5 trillion yuan in revenue by 2030 and 25% global share of first-in-class drugs. Other notable movers included the film and TV sector, lifted by nine films confirmed for the National Day holiday, and PCB and fiberglass stocks, boosted by price hikes from China Jushi and other manufacturers.
China A-Share Midday Review: Shanghai Composite Rises 0.55%, Medical Sector Leads Surge
On September 21, China's A-share market opened higher with all three major indices trading in positive territory by midday. The Shanghai Composite Index rose 0.55% to 3933.37 points, the Shenzhen Component Index gained 0.57% to 13718.23 points, and the ChiNext Index advanced 0.93% to 3403.97 points. Over 4,300 stocks advanced while more than 1,000 declined, with total half-day turnover reaching 1.339 trillion yuan, up 10.3 billion yuan from the previous session. The medical sector led gains, driven by a State Council meeting on September 18 that announced plans to expand rehabilitation and long-term care services, and a ten-department 'Fifteenth Five-Year Plan' for the pharmaceutical industry released on the same day, targeting 3.5 trillion yuan in revenue by 2030 and 25% global share for first-in-class drugs. The innovation drug, CRO, and medical service sub-sectors saw multiple stocks hit daily limits. Capital flows favored medical and communications sectors, while semiconductors, electronics, and electrical equipment saw net outflows. The medical sector alone attracted over 54 billion yuan in net inflows. Other gainers included film and PCB concept stocks, while home appliances and precious metals lagged.
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