In the past month, Chinese innovative pharmaceutical companies have made frequent successes in large-scale external licensing transactions. First, 3SBio announced a large external licensing BD (business development) order with a total amount of over US$6 billion, and its US$1.25 billion down payment set a previous record; followed by CSPC Pharmaceutical Group's announcement of a strategic R&D cooperation agreement with AstraZeneca, with a total amount of US$5.33 billion. The huge BD transaction orders of 3SBio and CSPC Pharmaceutical Group have allowed the outside world to see the value of China's innovative drug products, and have also made the innovative drug development logic of "China R&D, overseas licensing" widely recognized. The role of China's innovative drug industry is realizing a leapfrog development from "follower" to "participant" and even "contributor".