The announcement is among the latest signs China is open for foreign business after years of pandemic-induced isolation, although memories of Beijing's disruptive zero-Covid measures and its increasing prioritisation of national security have hammered international firms' confidence in the country.
In an email, Moderna declined to comment on the specific value of the investment, but confirmed that agreements had been signed. "Any medicines produced under this agreement will be exclusively for the Chinese people -- who face many of the same health challenges that affect other communities around the world -- and will not be exported," they added.
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