Welcome back to China Insights Weekly. Below are some of this week's key developments:
- Beijing and Shanghai continue to strengthen their lead in global scientific research output across major scientific disciplines
- Carbios a Wankai will build Asia's first enzymatic PET recycling plant in Zhejiang
- Kelun-Biotech signs a $1.3 billion agreement on the development of cancer drugs
- Shanghai establishes state-owned commodity trader to strengthen its pricing power
Chinese cities led by Beijing and Shanghai are increasing their global lead in high-quality research
According to Nature Index, Chinese cities lead the world in many areas of high-quality scientific output. In 2024, Beijing's output (measured by the adjusted Share indicator) increased by 9.14% year-on-year, while Shanghai improved by 20%. In the physical sciences, Chinese cities occupied six of the top ten positions, with Beijing maintaining its lead. American cities such as New York and Boston dominate the biological sciences, but Beijing finished third, just behind Boston. Guangzhou moved significantly from 13th place (2023) to 9th in 2024. In chemistry, Chinese cities dominated all ten of the top spots; the highest-ranked non-Chinese city is Tokyo in 12th place. In earth and environmental sciences, Beijing had more than double the share of second-place Nanjing. Shanghai and Baltimore–Washington each moved up one spot, while Wuhan fell two spots.
France's Carbios and China's Wankai join forces to build a pioneering PET recycling plant in Asia
French Carbios S.A. and Chinese Wankai New Materials is building a groundbreaking PET recycling plant using enzymatic decomposition in Zhejiang Province. At a cost of €115 million (US$130 million), it will be the first large-scale operation in Asia to use this technology. The plant is expected to process 50,000 tonnes of waste polyester per year and produce high-quality recycled polyester with a low carbon footprint. Wankai will hold 70% of the joint venture's shares, with Carbios holding the remainder. Wankai will also invest €5 million in Carbios, acquiring a minority stake and a seat on the board of directors. The joint venture will obtain an exclusive licence for Carbios' PET enzymatic degradation technology for Asia for three years, with the option to extend to an unlimited licence once a capacity of one million tonnes is reached.
China's Kelun-Biotech signs agreement with US company Crescent Bio to develop cancer drug for USD 1.3 billion
Massachusetts Crescent Biopharma and Chinese Sichuan Kelun Biotech have entered into a partnership worth up to $1.25 billion to develop combinations of PD-1/VEGF bispecific antibodies and ADC therapies. Crescent will pay $80 million upfront and additional milestone payments of up to $1.25 billion for the rights to SKB105 outside Greater China. Kelun will also receive $20 million upfront and up to $30 million in milestones, plus royalties from sales of CR-001 in China. Both companies plan to initiate Phase I/II clinical trials in solid tumours in early 2026.
Tomáš Kučera & Yereth Jansen
China-insights.com/gnews.cz - GH
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