Companies
Search for COVID-19 Vaccine Heats Up in China, US
TEHRAN (Tasnim) – Three potential COVID-19 vaccines are making fast progress in early-stage testing in volunteers in China and the US, but it is still a long road to prove if they’ll really work.
China’s CanSino Biologics has begun the second phase of testing its vaccine candidate, China’s Ministry of Science and Technology said Tuesday.
In the US, a shot made by the National Institutes of Health and Moderna Inc. isn’t far behind. The first person to receive that experimental vaccine last month returned to a Seattle clinic Tuesday for a second dose.
NIH infectious disease Chief Dr. Anthony Fauci told AP there are “no red flags” so far and he hoped the next, larger phase of testing could begin around June.
A third candidate, from Inovio Pharmaceuticals, began giving experimental shots for first-step safety testing last week in the US and hopes to expand its studies to China.
Initial tests focus on safety, and researchers in both countries are trying out different doses of different types of shots.
But moving into the second phase is a critical step that allows vaccines to be tested in many more people to look for signs that they protect against infection.
Last week, CanSino filed a report showing it aimed to enroll 500 people in this next study, comparing two doses of the vaccine to dummy shots. As of Monday, 273 of the volunteers had been injected, state media said.
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
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Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
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Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- China’s November 2024 Economy: Navigating Mixed Signals and Ongoing Challenges
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