A Weekly Business Briefing from Yicai Nov 8th

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A WEEKLY BUSINESS BRIEFING FROM YICAI

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AstraZeneca’s Insurance Fraud Is Said to Touch Dozens of China Senior Execs

Dozens of senior executives at AstraZeneca China have been implicated in an ongoing insurance fraud case as of last week, according to a person familiar with the matter.

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((( Decision Makers)))

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EU, China Need to Keep Door for Talks on EV Tariffs Open, Finnish President Says

The European Union and China need to engage in dialogue on the issue of the additional import tariffs the EU recently slapped on China-made electric vehicles to discover if they can find a solution, according to Finland’s president.

((( Industry Focus)))

Trump Win Is Likely to Hike Product Prices on China's Temu, Shein, and TikTok Shop in US

President-elect Donald Trump’s proposed tariff hikes could drive up prices for products sold on popular cross-border e-commerce platforms such as Temu, Shein, and TikTok Shop, even though Chinese sellers remain confident in their ability to maintain competitive pricing despite the potential increase in costs, according to local experts.

((( CIIE Observer )))

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Sanofi, Novartis, Other Pharma Giants Unveil Rare Disease Drugs, Other Medical Innovations at CIIE

?Sanofi, Novartis, Gilead Sciences and other pharmaceutical multinational companies are unveiling their latest medicines and medical devices for the first time in China at the seventh China International Import Expo.

US Food and Agriculture Pavilion Signs USD815 Million of Deals on First Day of Opening at CIIE

US companies taking part in the American Food and Agricultural Pavilion at the seventh China International Import Expo penned contracts worth USD815 million on the pavilion’s opening day yesterday, a 65 percent surge from last year, as the US businesses are optimistic about China’s growing market.

CIIE Brings New Opportunities for African Businesses

The ongoing China International Import Expo in Shanghai is creating new business opportunities for African countries and businesses, while also injecting more energy and vitality into global economic development.

((( Expansion )))

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Shanghai Launches China-Italy Industrial Park to Attract European Firms

Shanghai inaugurated a new industrial park project to support Italian and other European companies, particularly in the fields of civil aviation, automotive, high-end equipment, and consumer chemicals.

((( Mega Projects)))

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Uzbekistan Expects China to Invest USD10 Billion in Central Asian Nation This Year, Official Says

Uzbekistan is expecting to see more than USD10 billion of investment from Chinese companies and investors this year, according to a senior official at the Central Asian country’s Ministry of Investment, Industry, and Trade.

((( New Moves )))

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Budweiser to Expand Indoor Hop Production in China With New Partnership

Budweiser’s Chinese arm has signed a new deal with partner Jiangsu Nongken Group to expand indoor hop cultivation, further localizing the production of ingredients in the world’s largest beer market by sales.

((( Business Insights )))

Many Chinese EV Makers’ Sales Soar to New Highs in October; BYD Sails Past 500,000 Mark

Shares of Chinese electric vehicle makers, including auto giant BYD, climbed after they reported record sales for last month, buoyed largely by government policies promoting vehicle trade-ins.

China to Tighten Pollution Standards for Food Processing, Manufacturing Sectors

China’s government is seeking to beef up standards on pollutant emissions in the food processing and manufacturing industries, including those for vegetable oils and dairy products.