Answers - Finance

You have decided to set up home in China – whether it's your own personal choice or being posted by your host organization for business – there are a few guidelines that may be helpful to make the transition as smooth as possible. The suggestions below are relevant to those who are looking at renting an apartment rat

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

her than purchasing.

Finding an agent
If you don’t have any personal referrals from friends or colleagues, the best bet is to take some of the free magazine publications available at bars and hotels. These are English magazines with all sorts of handy details on housing and social life (restaurant

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

s, bars, events etc.). Some of the most popular editions are: Time Out Beijing (monthly), That’s Beijing (monthly), City Weekend (bi-weekly) – all of them are also available online.

Agencies usually charge a fee, which is settled with the landlord. Do not pay anything to the agency in advance since most likely you

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

will never be able to find the person again. Domestic agencies will accept your request only if you are looking at apartments of $120 (per month) and more, foreign agencies cater for rentals of $500 and above. Good agencies will be able to provide you with information on the benefits and drawbacks of the area and b

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

uilding complex. They will also show a lot of patience understanding your needs and eventually provide you with a substantial choice of apartments suitable for you.

Rental is usually paid 3 months ahead to the landlord and contracts signed for up to 1 year. Landlords may be reluctant to sign a short-term contract. A

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

fter you have found accommodation that suits you, make sure that you are registered at the local office of the Public Security Bureau (PSB – pai chu suo). The process of registration is quick and free. If you fail to do so you will be fined up to RMB 500/day ($65) and you will not be able to renew your visa.

W

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

orking to a budget
These suggestions are just for your reference. There are many more options than those listed below, this is only to give you an idea of what kind of housing you may be looking at according to your budget.

$120 - $250 per month
You will be looking at areas that are o

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

tside of central Beijing, Chinese housing, dirty buildings and elevator service that stops at midnight (to name but a few). Some other inconveniences that may follow are: not being accepted by the neighborhood (there is an assumption that all foreigners have lots of money and that they shouldn’t be in cheap housing),

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

inconvenient traffic, poor access to foreign food – market etc.). However, you will be immediately immersed in the Chinese lifestyle, and so will quickly gain insight into the local community and Chinese culture.

$250 - $400 per month
Some suggestions on areas you may be looking at

Maizidi

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

an
Situated behind the Great Wall Sheraton Hotel – quite a central location, this apartment complex has long been the first choice with foreigners for accessible and convenient low budget accommodation. There are many different apartments you can find, even some duplex at as low as $250/month.

Wan

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

g Jing Xin Cheng
Closer to the airport, you can find 3 bedroom apartments with great facilities. Traffic to the city center can be a nightmare though.

Dongzhemen Wai
Old apartments, very central but may be a bit dirty for those interested in better living conditions.

$500 - $10

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

00 per month
Apartments for this price give you the greatest flexibility in choosing the location. Be specific in your demands and agents will be happy to show you around. Traffic in Beijing is a real nightmare so find something close to your work, or if you plan to work at home, look at conveniences suc

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

h as night life, markets, shops with foreign food (such as dairy produce, fresh meat, good wines etc.)

$1200 - $2000 per month
With this budget you will be able to look for an apartment in one of the Foreign Compounds. There are 5 of them situated in Chaoyang District and near embassies – Tayuan C

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ompund, San Li Tun Compound (2 of them), Qijia Yuan Compound and Jianguomen Wai Compound. There are a lot of embassies as well as business offices and press agencies located there. Until 1997 foreigners were allowed to live only in these five areas surrounded with big walls and strong security. If you are interested

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

n mingling with Chinese people, they will not be allowed to enter the gates without you, which may be inconvenient.

There are other areas with similar settings that you will be able to find housing at. The only difference is that gates are open to everybody as long as you give details of the host (building and apart

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ment number). Some apartment blocks available within this price range: Sunshine 100, Suncity, Lianbao, East Lake Villas etc, all located in the central area.

$3000 per month - and above (Top end housing)
Enjoy the luxury of living in Beijing! Housing at the top end of the market can reach as high

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

as $10-20 000 per month. Villas, courtyards the choice is yours.

Villas are situated closer to the airport, with somewhat fresher air and a better chance to see clear skies (Beijing is very polluted and that may be the biggest problem of all to get accustomed to for those who want to live here – besides the traffic)

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

. It is quite remote, requires a car and does not give much feeling that you live in Beijing (quite an American style of architecture)

Courtyard houses are the latest fashion. They are converted typical old-style Beijing housing, where 10 or so families used to live together sharing the same yard, public tap and toi

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

let. In recent years the fast paced Beijing real estate development demolished the majority of courtyard houses, and the few remaining ones have now been newly renovated and are something of a status symbol. What used to be cramped housing with poor facilities is now the ultimate in luxury for one family, who can ste

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

p outside and enjoy the peace of the yard in the middle of the city centre. Pollution is still a problem but since most courtyard houses are situated in local Chinese communities, it combines the advantages of mingling with the locals and enjoying the benefits of good fengshui.

Copyright 2006 Dalida Turkovic

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Answers - Business in China #3 - Finding Accommodation in Beijing

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