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Nvidia to Participate in China Supply-Chain Expo in July for First Time, CCTV Reports

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U.S. chip giant Nvidia (NVDA.O) will attend the China International Supply Chain Expo in Beijing this July for the first time, according to Chinese state broadcaster CCTV.

The expo, now in its third edition, will take place from July 16 to 20 and feature more than 230 new Chinese and foreign participants, CCTV reported. Nvidia, the market leader in artificial intelligence-related chips, faces challenges in maintaining its share of the Chinese market amid tightening U.S. export controls restricting China’s access to advanced chips.

While the expo is not typically a venue for major deals, it offers foreign companies an important platform to demonstrate their commitment to the Chinese market. The event’s inaugural edition in 2023 saw Premier Li Qiang emphasize the reliability of Chinese supply chains, especially as some Western countries sought to reduce dependence on China.

Despite escalating trade tensions with the U.S., American companies will make up the largest group of foreign participants at this year’s expo, with a reported 15% increase over last year, according to CCTV.

AstraZeneca Signs $5.3 Billion AI Research Deal with China’s CSPC to Develop Chronic Disease Therapies

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AstraZeneca has entered into a significant AI-driven research partnership with China’s CSPC Pharmaceutical Group worth up to $5.3 billion. The agreement aims to advance the development of therapies targeting chronic diseases, reinforcing AstraZeneca’s commitment to innovation in its second-largest market.

Under the collaboration, CSPC will conduct AI-led research in Shijiazhuang City to discover and develop pre-clinical candidates, including a small molecule oral therapy for immunological diseases. AstraZeneca will pay CSPC an initial upfront fee of $110 million and can receive up to $1.62 billion in development milestone payments, plus an additional $3.6 billion tied to sales milestones.

This partnership follows AstraZeneca’s broader efforts to strengthen its presence in China, including a $2.5 billion investment in a new R&D hub in Beijing announced earlier this year. It also builds on recent collaborations with AI-focused companies like Immunai, Qure.ai, and Tempus AI.

The deal also grants AstraZeneca rights to exclusive licenses for drug candidates identified through the joint research. This adds to a previous licensing deal signed in October, where AstraZeneca agreed to pay up to $1.92 billion to CSPC to enhance its cardiovascular drug pipeline.

CSPC, which derives about 80% of its revenue from finished drugs, is currently exploring additional licensing and collaboration opportunities, according to Morningstar analysts.

Sharon Barr, AstraZeneca executive, highlighted the collaboration as part of the company’s commitment to tackling chronic diseases affecting over two billion people worldwide.

Apple’s iPhone Sales Lead Chinese Market in May Amid Global Growth, Says Counterpoint Research

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Apple’s iPhone sales surged to the number one position in China in May, marking the company’s strongest two-month global sales growth since the COVID-19 pandemic, according to data from Counterpoint Research. The tech giant experienced a 15% year-on-year increase in global iPhone sales during April and May.

This growth was mainly driven by rebounds in Apple’s two largest markets: China and the United States. Counterpoint Research also reported double-digit sales increases in Japan, India, and Middle Eastern markets, further contributing to the positive trend.

Ivan Lam, Senior Analyst at Counterpoint Research, noted that the second-quarter iPhone performance is promising but emphasized that the market dynamics in the U.S. and China remain critical determinants for overall success.

Data from the China Academy of Information and Communications Technology showed that shipments of foreign-branded phones in China rose slightly to 3.52 million units in April, up from 3.50 million the previous year.

Despite the growth, Apple faces intense competition from Chinese domestic smartphone brands. To remain competitive, the company has implemented price cuts, with Chinese e-commerce platforms offering discounts of up to 2,530 yuan (approximately $351) on the latest iPhone 16 models in May.