Latest news with #Jiangsu


South China Morning Post
a day ago
- South China Morning Post
Chinese monk ‘Papa Wu' famous for caring for abandoned babies faces fraud probe
A Chinese Buddhist monk, affectionately known as 'Papa Wu' due to his more than a decade of charitable work – including the care of hundreds of abandoned children – has been detained by police for alleged fraud. Advertisement The accusation involves the misappropriation of funds totalling more than 10 million yuan (US$1.4 million). This shocking revelation has sparked intense discussion online, with many expressing disbelief and outrage. Wu Bing, 48, also known by his monastic name Monk Daolu, hails from Jiangsu province in southeastern China and began his widely publicised philanthropic efforts in 2012. He established a 'Protective Abode' in Zhejiang province, which, at one point, housed over 50 children ranging from newborns to 10-year-olds, who affectionately referred to him as 'Papa Wu'. Wu founded a 'Protective Abode' in Zhejiang province, which at one time provided shelter for over 50 children, ranging from newborns to 10-year-olds, who affectionately called him 'Papa Wu'. Photo: Douyin In addition, he dedicated himself to providing shelter and assistance to single pregnant women unable to care for their children.


South China Morning Post
2 days ago
- Business
- South China Morning Post
Is China's massive trade-in programme running out of steam?
For months, consumers across China buying everything from iPhones to cars and washing machines have enjoyed steep discounts – courtesy of the government. Advertisement This vast subsidy programme has played a key role in boosting China's consumer spending this year, helping the economy remain relatively robust even amid an unprecedented trade war with the United States. But in June, some of those offers suddenly disappeared . In the eastern Jiangsu province, local authorities stopped issuing vouchers for online purchases of home appliances. Around the same time, several other provinces suspended their trade-in programmes for cars and appliances, citing depleted funds. The cancellations were the first sign that a reckoning may be approaching over China's consumption-boosting policies, which have succeeded in their main goals – but come with a hefty price tag. Last week, Beijing reaffirmed its support for the national trade-in scheme for durable goods, pledging that the rest of the 300 billion yuan (US$41.8 billion) funding would be allocated to local governments before the end of the year, with the next two rounds of funding set to be issued in July and October. Advertisement On Thursday, Li Chao, deputy director of the National Development and Reform Commission's Policy Research Office, said the government would formulate monthly and weekly plans to monitor the utilisation of those funds. 'This will ensure the orderly implementation of the consumer goods trade-in policy throughout the year,' she added.
Yahoo
2 days ago
- Business
- Yahoo
WuXi AppTec Nantong Site Receives 2025 Architizer A+Award for Its Unique Blend of Technology and Humanity
SHANGHAI, June 26, 2025 /PRNewswire/ -- WuXi AppTec, a global company that provides a broad portfolio of R&D and manufacturing services to enable companies in the pharmaceutical and life science industries, is delighted to announce that its Nantong site (Phase I) has been recognized as the Popular Choice Winner in the "Factory & Warehouse" category at the 2025 Architizer A+Awards. This recognition underscores WuXi AppTec's commitment to creating innovative, human-centric workplaces that empower employees and support customers in delivering transformative therapies for patients. The Architizer A+Awards, recognized as one of the most influential global architecture awards, celebrates groundbreaking designs that redefine functionality and aesthetics. Competing against thousands of entries from over 80 countries, WuXi AppTec's Nantong site stood out for its visionary design concept of 'technological-humanistic symbiosis'. Located in Jiangsu province, China, the Nantong site is an integral part of WuXi AppTec's CRDMO (Contract Research, Development, and Manufacturing Organization) platform, offering comprehensive chemistry, biology, and testing solutions to global customers. Designed by the acclaimed architectural firm, the campus integrates operational efficiency with human-centered design. Featuring eight main buildings arranged in two clusters, the site's layout fosters collaboration and innovation while harmonizing with its natural and urban surroundings. The Z-shaped laboratory and R&D office area form a distinctive urban frontage, creating seamless connection between science, community, and environment. The Nantong site exemplifies WuXi AppTec's broader efforts to integrate technology, environmental sustainability, and community engagement into its operations and facilities. For instance, the Couvet site in Switzerland is built with industry-leading energy efficiency standards, while the Munich site in Germany, certified as LEED Platinum, showcases sustainable construction and advanced technical infrastructure. As a global enabling platform for the pharmaceutical and healthcare industry, WuXi AppTec is dedicated to building a brighter, healthier future where "every drug can be made and every disease can be treated." About WuXi AppTec As a global company with operations across Asia, Europe, and North America, WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable the global pharmaceutical and life sciences industry to advance discoveries and deliver groundbreaking treatments to patients. Through its unique business models, WuXi AppTec's integrated, end-to-end services include chemistry drug CRDMO (Contract Research, Development and Manufacturing Organization), biology discovery, preclinical testing and clinical research services, helping customers improve the productivity of advancing healthcare products through cost-effective and efficient solutions. WuXi AppTec received an AA ESG rating from MSCI for the fourth consecutive year in 2024 and its open-access platform is enabling around 6,000 customers from over 30 countries to improve the health of those in need – and to realize the vision that "every drug can be made and every disease can be treated." View original content to download multimedia: SOURCE WuXi AppTec Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


The Standard
2 days ago
- General
- The Standard
China says it will strengthen approval of rare earths export licenses
Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. Picture taken October 31, 2010. REUTERS/Stringer/File Photo


South China Morning Post
2 days ago
- Business
- South China Morning Post
China's drug innovators tap AI to quicken discovery, slash costs, win deals
A deal between Shenzhen-based XTalPi and US firm DoveTree shows Chinese biotech AI capabilities are gaining recognition Upstart Chinese drug innovators are joining their foreign competitors in deploying more artificial intelligence (AI) tools to reduce the costs of discoveries in an effort to shorten the route to clinical trials and commercialisation. Genscript Biotech, based in Nanjing in eastern Jiangsu province, is developing in-house AI tools - using its enzyme prediction database and an algorithm for altering the DNA sequence of a gene - to identify and optimise promising candidates based on protein sequences and therapeutic targets, according to analysts at Jefferies. XTalPi, a Shenzhen-based AI-powered new drugs research firm, announced on Monday a deal with US firm DoveTree for global commercialisation rights to its drug candidates for multiple oncology, autoimmune and neurological diseases. Boston-based Insilico Medicine published the results of its phase two trial of rentosertib in the Nature Medicine journal, claiming the first proof-of-concept clinical validation of AI-driven discovery. Its drug candidate was tested for idiopathic pulmonary fibrosis, a chronic and progressive disease characterised by the scarring of lung tissue. A laboratory owned by QuantumPharm, also known as XtalPi, in Shenzhen. Photo: Handout At stake is a business that is projected to grow exponentially in the next decade. The market for AI-assisted drug discovery could reach US$13 billion by 2032 from US$1.5 billion in 2023, Coherent Solutions said in a report in April. Spending on AI-based clinical research tools could exceed US$7 billion by 2030, the software engineering firm said. AI enabled the processing of vast data, such as the genetic and protein content of biological samples, and clinical trials data more accurately and faster, according to Nebius, a Netherlands-based AI infrastructure and software provider. 'Drug innovation was slow, expensive and often bogged down by clunky infrastructure,' said Ilya Burkov, its global head of healthcare and life science. 'AI platforms can help identify novel targets and design promising new drug candidates in as quick as 18 months, compared to five to seven years, traditionally.' Newsletter Every Saturday SCMP Global Impact By submitting, you consent to receiving marketing emails from SCMP. If you don't want these, tick here {{message}} Thanks for signing up for our newsletter! Please check your email to confirm your subscription. Follow us on Facebook to get our latest news. While AI-assisted efforts are relatively new and none of the candidates have reached commercial status, the potential lies in the predictive power of AI models in accurately translating animal test results into clinical applications on human bodies, according to Goldman Sachs. China's new cancer drug gets US approval at huge price mark-up 'This is where the biggest bottleneck is and where the real disruption can happen,' said Chen Ziyi, head of Asia healthcare research at Goldman, in an interview. 'AI is promising with lots of hopes and unknowns, hopefully it will get smart enough for us to get there.' AI-assisted efforts have gained momentum in China's healthcare industry over the past five years, aided by technical advancement, policy incentives and capital investment, Jefferies said. The XTalPi deal showed Chinese biotech AI capabilities have also been recognised globally. DoveTree, which has three drugs approved by the US Food and Drug Administration, will pay XTalPi US$100 million within 180 days of a definitive agreement for the commercialisation rights to candidates for multiple oncology, autoimmune and neurological disease targets. Other global firms are also making headway, according to Goldman's Chen. One example is AlphaFold, a predictive AI tool developed by London-based Google DeepMind. By predicting protein structures with high accuracy, it enhances researchers' capability to identify potential drug targets and design drugs that attach them more effectively. Other technologies in the works include the use of artificial organs for virtual preclinical modelling to replace animal testing, he said. One example is the use of microchips lined with living human cells to mimic the structure and function of human organs to enable researchers to study how they respond to drug candidates.