Sanofi to Invest €1 Billion in Insulin Production Base in Beijing

Sanofi announced on Monday plans to invest approximately €1 billion (equivalent to $1.05 billion) to build a new insulin production base in Beijing. This move will represent the French pharmaceutical giant's largest single investment in China to date.

Sanofi revealed on its official WeChat platform that the factory will be located in the Beijing Economic and Technological Development Zone and will serve as Sanofi's fourth production and supply base in China.

China is working to strengthen economic cooperation with EU member states, despite tensions arising from allegations of subsidies provided by the Chinese government to the electric vehicle industry, impacting trade relations with the 27 EU countries.

Sanofi further noted that China will continue to promote market openness and is committed to creating a conducive business environment for companies, including Sanofi, to operate "with peace of mind."