AstraZeneca(US:AZN) Xin Lang Cai Jing·2026-02-03 04:21Core Insights - The innovative drug sector is gaining attention from investors due to a combination of favorable factors, including significant investment plans from multinational pharmaceutical companies, supportive policies for innovative drugs, and ongoing business development (BD) transactions [1][2][5]. Investment Trends - The Hang Seng Innovative Drug ETF (520500) has seen an average daily trading volume of 340 million yuan since 2026, with a net inflow of 41.8 million yuan reported recently. The fund's total size and shares stand at 2 billion yuan and 1.3 billion shares, respectively [1][8]. - AstraZeneca has announced plans to invest over 100 billion yuan in China by 2030 to expand drug manufacturing and research. Additionally, a BD transaction worth 3.5 billion USD has been established with a component stock of the Hang Seng Innovative Drug ETF, indicating growing recognition of Chinese innovative drug companies by international firms [2][9]. Policy Developments - The recently revised Implementation Regulations of the Drug Administration Law of the People's Republic of China have been officially published, emphasizing the improvement of the drug innovation system and support for drug research and development based on clinical value [3][10]. Sector Composition - The Hang Seng Innovative Drug ETF (520500) utilizes the Qualified Domestic Institutional Investor (QDII) mechanism to invest in 31 leading Hong Kong innovative drug companies, focusing on the upstream innovative drug sectors such as biopharmaceuticals, chemical pharmaceuticals, and raw materials [4][11]. Market Outlook - The Chinese innovative drug industry is potentially transitioning from a "research investment phase" to a "value realization phase," supported by improved policy frameworks, global liquidity, technological breakthroughs by Chinese pharmaceutical companies, and ongoing BD transactions [5][12].