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Shares of China vaccine makers slump on U.S. waiver support


By Reuters Staff
3 Min Read
SHANGHAI, May 6 (Reuters) - Shares in Chinese vaccine makers slumped on Thursday after U.S. President Joe Biden’s support for a proposed waiver of intellectual property rights on COVID-19 vaccines sent investors scrambling to reconsider high valuations.
The Shanghai shares of CanSino Biologics Inc, a single-dose COVID-19 vaccine maker, tumbled as much as 16.91%. The company’s Hong Kong shares fell even further, at one point diving nearly 22%.
Shares of Shanghai Fosun Pharmaceutical Group fell by the 10% daily limit, as the CSI300 healthcare sub-index dropped more than 5%.
On Wednesday, Biden indicated his support for a waiver amid growing concern that big outbreaks in India could allow the rise of vaccine-resistant strains of the deadly virus, undermining a global recovery. ....

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Caixin ESG Biweekly: More Pledges and Small Steps


Caixin ESG Biweekly: More Pledges and Small Steps
President Xi Jinping reiterated the strategic importance of carbon goals. Steps to realize a greener China remain small, but every step matters. Financial support for renewable projects was pledged, while it was clarified that funds raised through carbon neutrality bonds should be used on green projects only. Better green technology mentioned as a national priority. More details on the carbon trading market came to light.
CENTRAL POLICIES
A round of
China-U.S. high-level dialogue was held in Anchorage, Alaska, on March 18 and 19. During the talks, the two sides exchanged views on a series of issues, including ....

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