Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

China’s Tighter Tech Laws Could Stymie U.S. Demands for Data Handover, Legal Expert Says
China Chip Exec Says Crunch Could End by Mid-2022
Air Taxi Developer’s Listing Shows Tencent Can’t Shake Its Flying Car Dreams
Apple Hopes Cheaper IPhones Will Woo Chinese Customers
Two Chinese Tech Stocks Sizzle on Latest Hot Concept in Virtual Reality
China Tech Stocks Stumble in Rush Back Toward Bull Market
WeRide Joins With Carmaker, Courier to Commercialize Self-Driving Delivery Vans Dada’s Autonomous Delivery Investment Undercuts Revenue Jump
Non-Innovative Medtech Companies Are Winning Too Much Venture Capital, Official Says
Chipmaker SMIC Inks Deal With Shanghai for $8.8 Billion Factory
Tech Insider: EV Sales a Mixed Bag, MediaTek Stays on Top, Xiaomi’s New Direction
BGI’s Gene Sequencer Spin-Off Approved for Shanghai IPO
Smartphone Giant Xiaomi Officially Revs Up Smart Car Business
China’s GPS Alternative Gets Regulatory Roadmap in Push to Boost Adoption
Meituan Faces Fresh Regulatory Trouble Over Mobike Acquisition
China Hammers Mobile Gaming Industry With Tough New Limits
ByteDance Acquires China’s Largest Virtual Reality Headset Maker
Microchip Design Specialist Arm China Takes a Turn Into Autonomous Driving
Tech Insider: Self-Flying Hopeful EHang Runs Into Turbulence, Chipmaker Arm China Joins Auto Drive, iQiyi Gives Up on Its Idols
Self-Flying Vehicle Specialist EHang Hits Earnings Turbulence
Sinovac Secures Half a Trillion Dollars for R&D on Cusp of Vaccine Rollout

Anniek Bao / Dec 07, 2020 07:02 PM / Business & Tech

Chinese vaccine-maker Sinovac Biotech Ltd. has secured half a trillion dollars to boost research and production of its frontrunner coronavirus vaccine candidate that could be weeks away from being administered around the world.

One of China’s biggest pharmaceutical company, Sino Biopharmaceutical Ltd., has agreed to pay $515 million through a wholly owned subsidiary to buy 15% of a Sinovac unit called Sinovac Life Sciences Co. Ltd., the company said in a filing to Hong Kong Stock Exchange Monday.

Sino Biopharmaceutical shares rose as much as 4.6% to HK$7 ($) per share at market close on Monday, up from HK$6.69 on Friday.

The deal comes as the Beijing-based vaccine-maker signs deals to supply its coronavirus vaccine to several countries including Indonesia, Turkey, Brazil and Chile. The investment will be used to fund the research and development of its frontrunner vaccine CoronaVac and double its production capacity in preparation for a mass rollout in the near future.

The company said it would be able to manufacture over 300 million doses of the vaccine annually and plans to complete construction of a second production line by the end of year, which could double its Covid-19 vaccine production capacity to 600 million shots.

Depending on market demand and financing availability, Sinovac said it may consider further expanding the vaccine’s production capacity.

The company is expected to release data within days that demonstrates the effectiveness of CoronaVac. It is now analyzing interim data from phase 3 trials in Brazil, after which it will submit the data to the Chinese drug regulator.

Contact reporter Anniek Bao ( and editor Heather Mowbray (

Support quality journalism in China. Subscribe to Caixin Global starting at $0.99.


Share this article
Open WeChat and scan the QR code