Pharmaceutical company will invest money over five years in ‘strategic partnership’ with the city’s authorities

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AstraZeneca will invest $2.5bn in research and manufacturing in Beijing, as the pharmaceutical company tries to move past recent controversies including ditching plans for the expansion of a UK vaccine plant and the detentions of top executives in China.

The investment will be staggered over the next five years as part of a “strategic partnership” with the city’s authorities and also includes agreements with three local biotech companies.