AstraZeneca unveiled a long-term China strategy backed by a planned $15 billion investment to expand R&D and manufacturing across the value chain through 2030. The investment aims to scale cell therapy and radioconjugate capabilities and deepen local partnerships as China remains a major dealmaking hub. Separately, AstraZeneca agreed to a multi‑billion-dollar regional deal related to its obesity portfolio, signaling active commercial and licensing activity in China. The moves follow a wave of Western pharma collaboration and financing in China, reflecting both a commercial push and a tactical response to fast-evolving local regulatory and reimbursement landscapes. For global biotech partners, AstraZeneca’s commitments translate into more funding and commercialization options in China, though firms will need to navigate complex local regulations and pricing reforms.