Moderna Photo: CFP

The US biotech company Moderna inked new deals with its Chinese partners on Wednesday that enable the company's business expansion in China, a country that holds great potential and could provide business opportunities to global drug makers.

"Today, we signed a memorandum of understanding and a related land collaboration agreement to work toward opportunities for Moderna to research, develop and manufacture mRNA medicines in China," Luke Mircea-Willats, senior director, Media Relations and Communications of Moderna International, replied in an exclusive written statement to the Global Times on Wednesday.

The agreements are focused on strengthening health security by targeting "unmet needs and contributing to the ecosystem of medical solutions" available to patients in China, he noted.

The remarks came amid previous media speculations that Moderna planned to make its debut foray into the Chinese market, and the scale of Moderna's investment in China is expected to hit a new high for foreign investment in Shanghai.

Mircea-Willats told the Global Times that "any medicines produced under this agreement will be exclusively for the Chinese people -- who face many of the same health challenges that affect other communities around the world -- and will not be exported."

The company said that they are committed to being part of the solution by serving the global community and improving healthcare across the world.  

"With this announcement, we are taking further steps to deliver on our mission of creating the greatest possible impact to people through mRNA medicines," he said.

In recent years, with the improvement of China's socio-economic conditions, many are far more health-conscious and desire top-quality medical products. This has led to an unprecedented growth potential in the Chinese pharmaceutical market and has attracted multinational pharmaceutical companies to accelerate their presence in China. 

Companies like AstraZeneca, Pfizer and Johnson & Johnson have all announced plans to increase their investments and expand their operations in China.