RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and ChinaThe relationship between China and Japan recently took a turn for the worse in the fall of 2023 following Japan’s decision to release treated radioactive water from the Fukushima nuclear power plant into the ocean. The World War II history between the two countries and rising geopolitical tensions—and Japan’s general siding with the U.S. on international issues—didn’t help the situation.
In a recent survey by JCCI in China, nearly half of Japanese companies said they either didn’t invest or reduced their investment in China in 2023 from 2022, according to Reuters. China’s recently amended counterespionage law and regulations on cross-border data transfers were raised as concerns among the respondents. Elsewhere, fellow Japanese drugmaker Kyowa Kirin a few weeks ago decided to exit China, selling its entire operations in the Chinese mainland, including five established brands, to local firm WinHealth Pharma for about $100 million.
https://www.fiercepharma.com/pharma/astellas-employee-held-china-spying-indicted-chinas-prosecutors-reuters