Citic Securities research reports pointed out that the Shanghai Municipal Government Office issued "Several Opinions of Shanghai Municipal Government Office on Supporting the Innovation and Development of Biomedical Industry's Whole Value Chain", focusing on the pain points and difficulties of the industry, and supporting six major directions. Improving enterprise investment and financing system, promoting the industry to accelerate transformation and upgrading. Encouraging innovation and increasing support for research and development of innovative drugs. Speeding up the listing process of innovative drugs and medical devices, and promoting the application and promotion of innovative products. Promoting new and effective drug insurance in hospital admission, increasing the medical insurance payment for innovative products, and supporting the improvement of diversified payment system. Citic Securities believes that the support from the Shanghai municipal government documents will accelerate the innovation and progress of the biomedical industry, and is expected to lead other parts of the country to pay attention to the research and development and application of innovative drugs and medical devices, maintaining the innovative drugs industry's rating of "stronger than the market".