Published by Global Banking & Finance Review®
Posted on December 3, 2024
1 min readLast updated: January 28, 2026
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Sanofi announces a €1 billion investment in Beijing, marking its largest in China amid China-EU trade tensions.
SHANGHAI (Reuters) -Sanofi plans to invest around 1 billion euros ($1.05 billion) to build a new insulin production base in Beijing, which will mark the French drugmaker's largest single investment in China, the company said on Monday.
The site, which will be in the Beijing Economic and Technological Development Zone, will be Sanofi’s fourth production and supply base in China, Sanofi said in its official WeChat account.
China is seeking to strengthen economic ties with individual members of the European Union, even as its trade relations with the 27-nation bloc soured over issues including accusations of Chinese government subsidies to the electric vehicle industry.
In a Monday meeting with Sanofi Chairman Frederic Oudea in Beijing, Chinese Commerce Minister Wang Wentao said China will support all businesses equally in technological innovation and participating in market competition, a ministry statement said.
China will continue to open up its market, and is committed to building a business environment for companies including Sanofi to operate and develop with "peace of mind," Wang added.
($1 = 0.9500 euro)
(Reporting by Brenda Goh, additional reporting by Beijing Newsroom; Editing by Louise Heavens and Jonathan Oatis)
The article discusses Sanofi's €1 billion investment in a new insulin production base in Beijing amid China-EU trade tensions.
Sanofi is investing to expand its production capabilities and strengthen its presence in the Chinese market.
The investment comes amid strained China-EU trade relations, highlighting China's efforts to strengthen ties with EU members.
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