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A woman sorting medicine in the pharmacy of the Yueyang Hospital in Shanghai. Photo: Johannes Eisele/AFP/Getty Images

China is a long way from having a vibrant pharmaceutical industry, but is still pressing toward that goal.

Driving the news: A new report is out from Sen. Marco Rubio (R-Fla.) about China's "Made in China 2025" policy. It notes "China's intention for competing at the higher end of the value chain by innovating new drugs, increasing the quality of its products, achieving self-sufficiency in the domestic market, and increasing exports."

Where it stands: China has been trying to build up its own pharmaceutical industry for a while now.

  • It recently beefed up its version of the FDA, as well as its public health insurance program, to help entice more U.S. companies to see China as a market for sales, not just manufacturing.
  • Chinese companies are now trying to develop and win FDA approval for their own products, The New York Times reported last year, and are teaming up with the U.S. companies who are increasing their research footprint there.

Yes, but: China is a long way away from being able to seriously compete with the U.S. high-end drug industry, or to even be able to meet its own domestic demand.

Go deeper: How China is pulling ahead on AI and biotech

Go deeper

Hill votes will make global waves

President Biden addresses the UN General Assembly on Sept. 21, 2021 in New York City. Photo: Eduardo Munoz-Pool/Getty Images)

This epic week for President Biden on Capitol Hill is even bigger than his domestic agenda.

Why it matters: Biden has anchored his entire strategy for foreign affairs on the notion that "America is back." What that means in practice is that Biden needs to prove democracy works to rally America’s liberal allies against rising authoritarians.

2 hours ago - World

German election: Exit polls show close race to succeed Angela Merkel

SPD leader Olaf Scholz. Photo: Alex Kraus/Bloomberg via Getty Images

BERLIN — The first exit poll from Sunday's German elections showed the center-left Social Democrats (SPD) and the center-right Christian Democrats (CDU) in a dead heat at 25%, leaving the race to succeed Angela Merkel too close to call.

The state of play: A second exit poll showed the SPD narrowly ahead. That's the one televisions displayed at SPD headquarters in Berlin, where the room erupted into cheers. Official results will roll in throughout the evening.

Abbott says he'll hire Border Patrol agents on horseback

Texas Gov. Greg Abbott (R) on Sunday defended the actions of U.S. Border Patrol agents who charged at Haitian migrants on horseback, blaming the Biden administration for not preventing them from crossing the border.

Why it matters: Abbott's remark on "Fox News Sunday" comes amid increased backlash over the incident, with President Biden saying, "I promise... those people will pay,” and the Department of Homeland Security launching an investigation.