US vaccine maker Moderna to announce investment project in Shanghai as early as Wed – report

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US vaccine maker Moderna Inc will announced its investment project in Shanghai as early as Wednesday, which would be the company’s first investment in China, reported Chinese news outlet Yicai.

The size of the investment is expected to be the largest among the recent foreign investment in Shanghai and the total size of its investment in China is expected to exceed $1 billion, the report said.

The US biotech company said last month that it was looking for opportunities in China after confirming that it had registered a legal entity in the world’s second largest economy. The firm has registered a unit called Moderna (China) Biotech Ltd in Shanghai on May.24 with capital of $100 million, according to Chinese corporate registration data providers Qichacha.