Yidu Tech Chairlady Gong Rujing Attends WEF Annual Meeting 2022: Technological Innovation to Drive Digital Economy Development

HONG KONG, May 25, 2022 /PRNewswire/ -- The World Economic Forum ("WEF") Annual Meeting 2022 was held in Davos, Switzerland from May 22 to 26. On May 23, Ms. Gong Rujing, Chairlady, CEO and Founder of Yidu Tech Inc. ("Yidu Tech" or the "Company", HKEx: 2158), was invited together with several business leaders and academic elites, to attend a round table session on "China Investment and Economic Outlook", discussing topics such as China's economic resilience and investment prospects from a global perspective, all participants expressed confidence in the long-term growth of the Chinese economy.

Participants of the round table also included Zhu Ning, Deputy Dean and Professor of Finance, Shanghai Advanced Institute of Finance, Jonathan Krane, Chief Executive Officer of KraneShares, John Tuttle, Vice-Chairman and Chief Commercial Officer of NYSE Group Inc. and Marcos Troyjo, President of New Development Bank.

Comprehensive acceleration of digital transformation in the healthcare sector boosts value-driven growth

In recent years, China has attached great importance to the healthy and sustainable development of the digital economy and is actively promoting the deep integration of the digital economy and real economy, bringing huge growth potential to the overall economy. China's healthcare industry is also undergoing a transformation from informatization to digitalization to intelligentization, to establish a value-oriented healthcare system.

During the session, Ms. Gong Rujing said that the digitalization of the healthcare industry in China is continuing to accelerate, with areas such as public health management, medical research, new drug research and development ("R&D"), and health management seeing remarkable development. She believes that in the long run, the value of a company depends on the value that it can provide for the industry, and based on the clear growth fundamentals of the healthcare industry, Yidu Tech remains very optimistic about the future of the healthcare intelligence industry.

Healthcare Intelligence helps reduce costs and increase efficiency of drug R&D in response to aging population

China's elderly population aged 60 and above has exceeded 260 million, and over 75% of them suffer from one or more chronic diseases. With the continuous increase in demand for patient management and new drug R&D, Ms. Gong Rujing believes that the application of healthcare intelligence will effectively address the problems associated with an aging population. She mentioned that Yidu Tech has provided solutions for hundreds of customers worldwide, driving cost reduction and efficiency in the healthcare industry, achieving faster and better new drug R&D.

Ms. Gong cited the example that on average, a new drug needs to go through a long cycle of around 10 years and over hundreds of millions of dollars in R&D to come to market. But by utilizing Yidu Tech's data insights to optimize new drug R&D design, enable precise selection of research centres and apply intelligent patient screening, Yidu Tech has helped a partner developing rare diseases drugs to shorten their clinical phase II by about 20 months, reducing manual labour and improving research efficiency.

China is expected to be a global leader in the technology sector

International investors are increasingly interested in the Chinese economy, and Jonathan Krane, Chief Executive Officer of KraneShares, believes that China will become a leader in areas such as technology, healthcare, and 5G. He believes that global investors will invest more in China in the future. He specifically mentioned that the Chinese technology sector occupies a very important position in the national economy and will remain a healthy industry in the long run against the backdrop of the favourable policies introduced by the Chinese government.

Marcos Troyjo, President of the New Development Bank, said that thanks to China's economic scale and economic sophistication, its value-add to the global value chains will be one of the most important "magnets" in attracting new investments.

Zhu Ning, Deputy Dean and Professor of Finance, Shanghai Advanced Institute of Finance, said that China is transitioning from high-growth development to high-quality development. China is entering into a new model that is more sustainable, inclusive, and eco-friendly. In the long run, China's economy will become higher quality, more sustainable, and resilient.

This year's meeting brought together nearly 2,500 dignitaries and experts from around the world to discuss how to bring together multiple stakeholders, develop long-term policies and strategies to revitalize the global economy and consolidate the progress made in advancing the fourth industrial revolution. Børge Brende, President of the WEF, said that China has made a huge contribution to global economic growth and its stable economic growth is of great significance to global recovery.

About Yidu Tech Inc.

Founded in 2014, Yidu Tech Inc. ("Yidu Tech", stock code: 2158.HK) has been focusing on the development and application of healthcare intelligence since its inception. The Group focuses on solving the pain points of intelligent applications in the three major healthcare scenarios of public health, research, and diagnosis and treatment, empowering the industry through healthcare intelligence infrastructure, and promoting the construction of a safe, accessible, and value-based healthcare system. In January 2021, Yidu Tech was successfully listed on the Hong Kong Stock Exchange.

Yidu Tech primarily operates in three business segments, namely Big Data Platform and Solutions, Life Sciences Solutions, and Health Management Platform and Solutions, which facilitate medical research, healthcare management, public health management and development of innovative drugs, as well as assist the industry to reduce cost and improve efficiency, with an aim to make value-based precision healthcare accessible to everyone.

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