>FDA OKs Chinese treatment
US drug regulators have issued their first-ever approval for a Chinese-developed innovative cancer treatment, marking a breakthrough for China's biotech sector.
The US Food and Drug Administration (FDA) approved zanubrutinib, a treatment for mantle cell lymphoma, a rare kind of blood cancer, produced by BeiGene in Beijing under the name Brukinsa.
Chinese companies aiming to develop new drugs have proliferated in recent years and raised billions from venture capital investors and through public listings.
"It's definitely a milestone for the Chinese biotech industry," said Zhao Bing, an analyst at Chinese brokerage Huajing Securities. "More Chinese biotechs are following BeiGene's model, to innovate not only for China but for the global market."
There are about 800 innovative drugs in development at Chinese biotechs, a number that has more than tripled since 2012.
Of those, 70-80 are in late-stage trials, according to consultancy McKinsey.
"There will be more innovative [Chinese] drugs approved by the FDA in the near future," said Wang Gang, a scientist at consultancy Clarivate Analytics.
>Gates retakes richest title
Microsoft co-founder and billionaire philanthropist Bill Gates has surpassed Amazon's CEO Jeff Bezos as the world's richest person, reclaiming the distinction for the first time in more than two years.
As of Friday, the Bloomberg Billionaire Index reported the Gates' total net worth comes in at a staggering $110 billion.
Microsoft shares are up almost 48% this year and the company beat out Amazon for a lucrative $10 billion cloud-computing contract with the Pentagon.
Bezos currently sits in second place with a total net worth of $109 billion.
Recently, Gates spoke about a proposed wealth tax being campaigned by some Democratic presidential candidates, including Sen. Elizabeth Warren. He revealed he already paid more than $10 billion in taxes.
Gates said: "If I'd had to pay $20 billion, it's fine. When you say I should pay $100 billion, then I'm starting to do a little math about what I have left over."
>Space station up by 2022
China plans to complete the construction of a space station and have it begin operation around 2022, said Zhou Jianping, the chief designer of China's manned space program, at the 4th China Summit Forum on Human Factors Engineering. The space station is designed to weigh 100 tons and accommodate three astronauts, which could be expanded if needed, according to Zhou.
"The main goal of the construction of the space station is to enable China to become a country independently mastering the technology for long-term manned flight in near-Earth space, and having the capability to carry out long-term manned scientific experiments in near-Earth space and comprehensive development and utilization of space resources," said Zhou.
>Pork prices begin to fall
Pork prices in China have started to decline, and production will gradually be restored as supporting policies take effect, the agriculture minister said. The number of breeding sows began to rise last month, and the number of other pigs decreased at a much slower pace, said Han Changfu, minister of agriculture and rural affairs.
The number of breeding sows in stock - a major gauge to evaluate the potential of pork production - increased by 0.6% in October from the previous month, following months of decline.
The average wholesale price of pork in China was about 48 yuan a kilogram on Friday, the ministry said. That is down from 50 yuan a kilogram during the week of Nov 8 to 14, but still 157% above last year's level.
Despite a decrease in pork production, there had been big increases in the production of poultry, beef and mutton this year, which meant the supply of meat could, in general, be assured, Han said.
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