SHANGHAI, Feb. 27 (Xinhua) -- Shanghai has become the fifth global strategic hub for the British pharmaceutical company AstraZeneca, joining hubs in the United States, Sweden and UK, the company announced at the 2024 Shanghai Bio-Pharmaceutical Industry International Development Conference that opened on Monday.

The Shanghai hub is a global strategic center that integrates research and development (R&D), commercial and production operations. It plays an important role as a strategic launching pad for AstraZeneca's global strategy, R&D and long-term development, the company noted.

"For over three decades, AstraZeneca has been deeply rooted in China, with Shanghai at the heart of our strategic endeavors," said Pascal Soriot, chief executive officer of AstraZeneca.

"We see great opportunity for Shanghai and the Yangtze River Delta region to leverage its international capabilities to globalize local innovations, for instance by promoting global recognition of Chinese clinical research data," noted Soriot, adding that AstraZeneca remains committed to further exploring the vast Chinese market.