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On July 8th, China Biopharmaceutical (01177.HK) announced a further deepening of its strategic cooperation with GlaxoSmithKline (GSK.N). Under the expanded cooperation agreement, Chia Tai Tianqing Pharmaceutical Group, a subsidiary of China Biopharmaceutical, will be fully responsible for the import, distribution, hospital access, and promotion of two innovative respiratory drugs in mainland China: Flutemetixyl Inhalation Powder (Tronex) and Umemetidine-Vilanterol Inhalation Powder (Olex). Previously, the two companies had already reached a cooperation agreement on the localization of innovative drugs in the field of liver disease.Bernstein: Lowered its price target for Netflix (NFLX.O) from $110 to $100.Citigroup raised its price target for Johnson & Johnson (JNJ.N) from $285 to $298.Broadcom (AVGO.O) recovered some of its losses in pre-market trading and is currently down 0.5%. The company has reached an agreement with Apple (AAPL.O) to produce more than 15 billion chips.On July 8, Xi Jinping attended the National Science and Technology Awards Conference, the General Assembly of the Chinese Academy of Sciences and the Chinese Academy of Engineering, and the 11th National Congress of the China Association for Science and Technology, and delivered an important speech. Xi Jinping emphasized the need to promote the deep integration of scientific and technological innovation and industrial innovation, and to open up channels for the accelerated transformation of science and technology into real productive forces. Scientific and technological innovation should be application-oriented, while industrial innovation should focus on raising scientific questions. He stressed strengthening the national technology transfer system, creating diversified application scenarios and high-level industrial clusters, and promoting the application and iterative upgrading of independently developed technologies and products. He also called for improving the intellectual property protection system and building a science and technology finance system adapted to scientific and technological innovation.