Pascal Soriot, the chief executive officer of global pharmaceutical giant AstraZeneca, has announced the company will invest 2.5 billion U.S. dollars in a research and development center in Beijing, focused on accelerating scientific innovation, leveraging artificial intelligence (AI) in drug development, and reinforcing the company's commitment to China's healthcare sector.
In an interview with China Global Television Network (CGTN) over the weekend at the 2025 China Development Forum, Soriot discussed AstraZeneca's plans for this significant investment.
"Last year, we announced an investment in manufacturing -- a big plant in Qingdao. This year, we are announcing a large investment of about 20 billion yuan in Beijing to create the No.6 R and D strategic center in the world. And we do this because innovation in our industry, in China, is exploding. And we want to partner with those companies and help them, work with them, to develop new medicines, and bring those medicines as quickly as possible to patients in China, but also outside of China," Soriot said.
The investment is aimed at enhancing AstraZeneca's research and development capabilities to address both local and global healthcare needs. Soriot emphasized the collaborative nature of the company's strategy.
"What we're going to do is partner with academic institutions and also biotech companies to very quickly, using AI, research and develop medicines. And then we will use our global clinical network to do clinical trials around the world, and then of course, get approval and commercialize these medicines, that many of them can be manufactured in China and exported from China. We already export to 70 countries around the world from China," Soriot explained.
AI is a cornerstone of AstraZeneca's drug development strategy, and Soriot emphasized the transformative impact the technology has on the industry.
"So AI is actually affecting many, many industries, of course, many parts of life. But in our industry, it has a tremendous impact. In the past, when you had a molecule, you had to optimize it, it would take six months. Now you can do this in two weeks. It also helps us accelerate the clinical trials. So AI is really transforming the way we develop medicines," Soriot said.
Beyond innovation, AstraZeneca is prioritizing patient care through early diagnosis and chronic disease management.
"We invest in early diagnosis, and then we bring those medicines to patients. We partner with hospitals and doctors to make sure patients are diagnosed and treated appropriately. And that's where we focus our interventions: diagnose patients early, try to keep their chronic conditions under control. And again, the objective is really to make sure people not only live longer, but they live, they are healthy," Soriot said.
AstraZeneca to invest 2.5 bln dollars in Beijing research, development center
Steel furniture-making companies in central China's Henan Province have shown resilience in the face of the challenges posed by U.S. tariffs, with their intelligent production lines continuing to churn out high-quality and affordable steel products and smart marketing strategies helping to tap into new customer bases.
In Luoyang, an historic city which once served as an ancient capital of China, thousands of companies have been busy manufacturing steel furniture that is exported to over 100 countries and regions worldwide, with the industry here having a total output value approaching nearly 20 billion yuan (over 2.7 billion U.S. dollars).
Despite the economic impact of the trade measures taken by the Trump administration, including a 25-percent tariff on steel and aluminum products and the recent escalation on imports from China, a number of these Luoyang-based firms have been able to not only sustain but grow their orders by turning to new markets and deploying new strategic approaches.
At one steel furniture factory in the city, company executive Wei Pengfei has been guiding Indonesian distributors through its intelligent production line, demonstrating the advanced laser cutting and welding technologies adopted by the firm that achieve precision levels 10 times higher than most traditional manufacturing methods.
"Before visiting, the distributors questioned how could we offer such high quality at such affordable prices. But after seeing our intelligent factory, the supporting capabilities of our supply chain, and the logistics costs, they were thoroughly convinced," Wei said.
Earlier this year, during an overseas trade show, Wei discovered through discussions with clients that the humid climates of Southeast Asia often forces wooden furniture to undergo frequent repairs or be replaced. Recognizing this as a potential market opportunity for their steel-based products, he promptly organized a team to conduct in-depth market research.
After nearly a month of research and development, the company's steel plates not only perfectly replicated the color and tactile texture of wood but also crucially boast a lifespan three times longer than that of conventional wooden furniture. Upon launch, the steel product attracted numerous pre-orders from interested parties across the region, with Wei noting that since the start of April, the company has hosted over 20 distributors from both China and overseas.
"We have full confidence in expanding into markets in other countries, which could replace our current 30-percent market share in the United States. We are also highly confident in the future development of this industry," Wei said.
Some firms have had to think fast to respond to the U.S. tariff turmoil, with another Luoyang-based steel furniture company being hit with 10-million-yuan's worth of canceled orders within a 10-day period as a result of Trump's tariff actions.
Faced with this crisis, general manager Xiao Rui recognized the urgent need to shift the company's focus to domestic market to offset the losses. However, the transition presented significant challenges, including immature sales channels and limited marketing approaches.
"When we first attempted to enter the domestic market, we fell into a misconception for a while. We initially aimed to engage in business with well-established local distributors, only to realize that competing for market share against more seasoned industry players was quite challenging," Xiao said.
The ineffectiveness of traditional marketing methods prompted Xiao to turn to a more modern and creative approach, by producing engaging short videos to drum up online interest. Within a month, the company had published over a dozen of videos highlighting their workshop production methods and demonstrating the quality of their finished products in a hands-on manner, capturing the attention of a younger audience.
Through the utilization of this video marketing strategy, the company were able to diversify their channels, attract new customers, and secure fresh orders.
Furthermore, the firm has also identified the niche market of steel pet furniture, with items catered to customer's four-legged friends. Recently, they also unveiled their hottest new products at the Canton Fair in south China's Guangzhou, one of the country's largest and longest-running international trade events.
"When everyone found the current situation particularly challenging, we saw it as a great chance for us. The reshuffling of the market landscape has presented us with a new opportunity, given that there is still a demand for steel furniture worldwide, and no other region can replace China's advantages in this realm. We are quite confident that our domestic sales revenue will exceed 15 million yuan for the whole year," Xiao said.
Chinese steel furniture makers turn to new markets to overcome US tariff challenges
