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AstraZeneca invests big in China

AstraZeneca is expanding its footprint and investment in China. The drugmaker is opening an AI Innovation Centre and a Global R&D Centre in Shanghai. The R&D site will focus on drug development for diseases common in China and other Asian countries. It will boost the firm’s R&D head count in Shanghai to about 1,000. AstraZeneca is also partnering with the investment bank China International Capital to create a $1 billion fund to invest in Chinese health-care companies and firms looking to expand in China.