AstraZeneca's China Executive Seeks Loyalty to "Love the Communist Party" In China
Portfolio Pulse from Vandana Singh
AstraZeneca's China president, Wang Lei, announced the company's intention to be a patriotic company in China that 'loves the Communist Party' during an event in Wuxi. This is less common for foreign companies. AstraZeneca has recently invested $450 million in a factory in China, which accounted for 13% of the company's overall sales in 2022.
May 19, 2023 | 12:25 pm
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AstraZeneca's China president pledges loyalty to the Communist Party, potentially improving the company's standing in China.
AstraZeneca's public display of loyalty to the Communist Party may improve its standing in China, potentially leading to more favorable business conditions and increased sales. This could have a positive short-term impact on the company's stock price.
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