Wang Xueqiao

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

Chinese pharmaceutical companies are developing domestic versions of “miracle” weight-loss drugs as they take on western drugmakers selling anti-obesity medication in one of the world’s biggest markets. Chinese drug companies hope to compete with the Danish pharma group Novo Nordisk’s pioneering drugs in China, which has the world’s largest overweight and diabetic population. If successful, they could also potentially offer a cheaper alternative in the west. The new generation of weight-loss d…

A Chinese rival to Tesla said it was increasing investment and hiring thousands of new staff to survive a “bloody sea” of competition. He Xiaopeng, chief executive of Xpeng, said the Volkswagen-backed company would add 4,000 staff and invest Rmb3.5bn ($486mn) in autonomous driving and artificial intelligence technologies. However, Guangzhou-headquartered Xpeng “will buck the trend” during a year that was a “knockout round” for Chinese carmakers, He said in a letter to staff published by local…

Shanghai’s Energy Singularity looks to raise $500mn to develop clean energy breakthrough using locally sourced materials

Venture capital finance has dried up amid political and economic pressures, prompting a dramatic fall in new company formation

Price-conscious buyers hunt for deals while others seek goods that can hold value in times of uncertainty

Government expected to announce GDP expanded about 5% in 2024 but many feel economy is in recession

In China, consumers often have little recourse when things go wrong. This time they investigated

Western drugmakers look to Chinese trials for early data on treatments’ potential success