Background: Emerging economics show increasingly extraordinary performance in global market. In pharmaceutical industry with intensive research and heavy investment, how pharmaceutical firms from emerging economies internationalized themselves to meet the challenges in this complex-system sector has become an attractive topic for both academics and industry. As an up-and-coming player, Chinese pharmaceutical industry shows rapid development momentum with increasing number of firms expanding overseas. There have no systematic researches and academic reports related to the internationalization of Chinese pharmaceutical industry. Objective: It views background (foundation time, registered region, listed time, ownership, number of employees and main business) and internationalization strategies (internationalization time, location choice, entity choice, entity description, entry mode and purpose) of Chinese multinational firms in pharmaceutical industry. Thus provide a clear understanding of Chinese internationalization patterns in pharmaceutical industry. Then analyze what factors impact these firms’ overseas choices, and to investigate its implication on Chinese pharmaceutical firms and global health. Methods: The study uses the method of content analysis. Through data collection from diversity sources and data analysis by coding from several dimensions, the pharmaceutical firms with international behaviors are included in the research to investigate each firm’ background and internationalization strategies. Findings: 24 Chinese pharmaceutical firms are included in the research, which located mainly in Beijing and Shanghai. The international participants were established mainly in 1990s. Companies included in the study are large-scale and medium-sized enterprises, the majority of which are privately owned. Through building overseas entities by joint ventures, greenfield investment and cross-border acquisition, Chinese pharmaceutical company obtained market and technology as core purposes. Four internationalization patterns are identified through using pattern matching, namely, (1) market seeking by the state-owned; (2) opportunity exploring by the emerging-private; (3) culture penetration by TCM firms; and (4) global integration by CROs. Conclusion: The internationalization of Chinese pharmaceutical firms is affected by three driving factors: firm ownership, business scope and value chain positioning. v Moreover, the internationalization of Chinese pharmaceutical industry has a positive impact on Chinese pharmaceutical firms and global health. This study attempts not only to provide empirical evidence of internationalization of Chinese pharmaceutical firms, but also to contribute to the field of study on corporate internationalization in the complex-system sector. Besides, this study also hopes to have provided useful implication for those Chinese pharmaceutical companies that are interested in overseas expansion, and may have practical information to offer to the global integration of foreign pharmaceutical companies into China.

新興經濟體在全球市場中的表現越來越突出，尤其是在知識密集和投資密 集的製藥藥產業，新興經濟體中製藥企業是如何面臨挑戰，這已經成為學術和 產業界所關注的焦點。中國製藥產業作為該行業中快速發展的後進者，製藥企 業正逐步開始海外拓展，目前並沒有系統性的研究和學術報告涉及中國製藥企 業的國際化。 通過研究已經走出去的中國製藥企業的背景（創立時間，註冊地、上市時 間、所有制、員工人數和主要業務）和國際化策略（國際化試講、區域選擇、 實體選擇、實體介紹、進入模式和目的），得到中國製藥企業國際化的模式， 分析影響中國製藥企業國際化的驅動因素和對全球健康產業的啟示。 利用文件内容分析的研究方法，通過資料收集和資料分析，獲取多來 源的資訊資料，涉及不同維度對資訊進行多次整理和編碼，獲取進行國際化的 中國製藥企業的企業背景資料和國際化策略資料。 本研究納入 24 家中國的製藥企業進行國際化分析，這些企業集中於北京、 上海等地，集中於 20 世紀 90 年代創立，均為大型企業和中型企業，以民營企 業為主。這些企業通過合資建廠、綠地投資和跨國並購的方式在海外建立實體， 美國成為了海外投資的重要選擇，獲取市場和技術成為主要目的。通過企業背 景和國際化策略的模式匹配，最終將中國製藥企業的國際化模式分為四種：（1） 市場獲得者---國有企業，（2）機會探索者---新型民企，（2）文化滲透者--- 中藥企業，（4）全球整合者---外包企業。 本研究發現三個影響中國製藥企業制定國際化策略的因素，分別為企業的 所有制、業務範圍和產業鏈。此外，中國製藥產業的國際化對中國製藥企業和 全球健康都有積極影響。目前關於中國製藥產業國際化的研究資料的品質和數 量均不足，本研究為該領域提供實證貢獻，也為複雜系統部門的研究提供理論 貢獻。此外，本研究為將要走出去的中國製藥企業和其他新興市場的製藥企業 提供參考和借鑒，為發達國家企圖和中國企業進行國際合作的製藥企業提供實 用資訊。