Drug company’s China executive pledges to support Communist Party.

AstraZeneca Vows to be a Patriotic Company in China

Global drugmaker AstraZeneca is making a bold move in China by pledging to be a patriotic company that “loves the Communist Party”. Wang Lei, the company’s China president and global executive vice president, made the announcement at an event in Wuxi celebrating AstraZeneca’s 30th year in China. While many local companies have publicly pledged allegiance to the ruling Chinese Communist Party, it is still unusual for foreign companies to do so.

Building a Local, Transnational Company

Wang Lei’s presentation to a few hundred participants included the message “Build a local, transnational company that loves the Communist Party and loves the country”. AstraZeneca declined to comment on the matter. The company has been increasing its investments in China, including a $450 million investment to build a factory to make inhalers. China accounted for 13% of AstraZeneca’s total sales last year, making it China’s biggest drugmaker.

Foreign Firms Show Commitment to China

Since China started reopening its borders earlier this year, many heads of foreign firms, including AstraZeneca’s CEO Pascal Soriot and Apple’s Tim Cook, have visited the country to stress their commitment to China. However, a recent crackdown on consulting and due diligence firms by Chinese authorities is causing concern among foreign companies who rely on such consultancies to conduct research on the market and prospective deals.

Conclusion

AstraZeneca’s move to pledge allegiance to the Communist Party is a bold one, but it remains to be seen how it will be received by the Chinese public and government. As foreign companies continue to navigate the complexities of doing business in China, it is clear that showing commitment to the country and its leadership is becoming increasingly important.

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