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Chinese language overseas minister requires ‘non-interference’ between China, U.S.

The flags of China, the United States, and the Chinese Communist Party are displayed in a flag booth in the Yiwu Wholesale Market in Yiwu, Zhejiang Province, China on May 10, 2019.

Aly Song | Reuters

BEIJING – Chinese Foreign Minister Wang Yi said Sunday the US must lift “unreasonable restrictions” in order for the two countries’ relations to move forward under President Joe Biden’s administration.

Wang’s remarks come from the fact that tensions between the US and China have escalated in recent years under former President Donald Trump, whose term of office ended in January. So far, the Biden government has maintained a tough stance on China – calling the country a more assertive “competitor” – and has raised concerns about Beijing’s stance on Taiwan, Hong Kong, Xinjiang and Tibet.

China’s central government regards these issues as part of its internal affairs.

“With regard to China-US relations, I believe that both sides must first uphold the principle of non-interference in each other’s internal affairs,” said Wang. This emerges from an official English translation of his Mandarin-language statements at a press conference that took place alongside the annual “Two Sessions” parliamentary session in Beijing, the country’s largest political event of the year.

Biden-Xi call

In a two-hour phone call with Chinese President Xi Jinping in February before the New Year holidays, Biden had expressed “fundamental concerns” about Beijing’s actions on issues such as Hong Kong, according to the White House. At the same time, the two heads of state and government also discussed how to fight the coronavirus pandemic by working together on climate change and preventing the spread of weapons.

Wang said Sunday the two countries could also work together on the economic recovery from the pandemic, citing the call as a positive foundation for rebuilding bilateral ties.

“We stand ready to work with the United States to pursue the outcome of this important phone call and to put China-US relations on a new path of healthy and steady growth,” he said.

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Business

Chinese language electrical automobile start-up Li Auto expects to promote fewer than Nio

A Li Xiang One Hybrid SUV is on display during the 18th Guangzhou International Auto Show in Guangzhou, China on Nov 23, 2020.

Li Zhihao | Visual China Group | Getty Images

BEIJING – Chinese automaker Li Auto, listed on the Nasdaq, is forecasting deliveries in the first quarter that will be below those of its competitors.

Li Auto announced late Thursday that it is expected to deliver between 10,500 and 11,500 cars, or fewer than 4,000 vehicles per month, for the first quarter of the year. Shares fell 9.8% in the New York trading session on a wider market sell-off. The stock lost another 3.75% in over-the-counter trading.

Nio, which competes directly with Li Auto in the high-end SUV market, shipped more than 7,000 units in both December and January. The company will release its latest financial report on Monday.

Xpeng shipped 5,700 cars in December and more than 6,000 in January.

Although the numbers of startups suggest rapid growth, they still pale in comparison to Tesla. Elon Musk’s electric car company shipped nearly half a million vehicles worldwide last year, which is an average of more than 41,000 cars per month.

Despite the New Year holiday in mid-February this year, Li Auto’s poor forecast is worrying, said Tu Le, founder of Beijing-based consulting firm Sino Auto Insights.

He pointed out that the company only has one product compared to the other startups and that it should deliver at least 5,000 to 7,000 vehicles a month to keep up.

Li Auto’s only vehicle, the Li One, is a hybrid electric vehicle equipped with a fuel tank to charge the battery.

Analysts have said the feature makes the Li One attractive to Chinese consumers who are concerned about running out of power without access to a charging station.

Last year, the Li One was one of the top 10 high-end SUVs sold in China, regardless of the fuel type, according to the passenger car association. However, the company announced that January shipments fell from 6,126 the previous month to 5,379 units.

The company reported total revenue of 4.15 billion yuan ($ 635.5 million) for the fourth quarter, compared with 2.51 billion yuan in the previous quarter.

Li Auto expects total sales for the first three months of this year to be in line with the last two quarters, with an expected range of 2.94 to 3.22 billion yuan.

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Business

Chinese language regulators reprimand Tesla over rising complaints about its vehicles.

Chinese regulators recently met with Tesla executives after several government agencies reported an “unusual acceleration” in complaints from consumers about battery fires and other quality issues with the company’s electric cars.

In a post on Chinese social media platform WeChat, the state administration for market regulation said officials from five government agencies interviewed Tesla executives and “asked them to strictly comply with Chinese laws and regulations, strengthen internal management and improve quality and implement company safety regulations. ”

Tesla recognized its “flaws in the business process” and agreed to improve the quality and safety of its vehicles, the regulator said in the release.

The electric car maker has struggled with quality issues as it increased its production from tens of thousands of cars a year to 500,000 in 2020. On social media, customers have documented numerous problems with the new Tesla, including large gaps between body panels, poor paintwork and broken glass. These complaints were confirmed in surveys and reviews of the company’s cars by JD Power and Consumer Reports.

Some of the issues cited by Chinese regulators aren’t unique to Tesla. The potential for fires in the large batteries that power electric cars has forced other automakers to recall cars. General Motors recalled Chevrolet Bolt electric cars from the 2017-2019 model years in the U.S. in November because they could catch fire under certain conditions. Tesla has previously said that its models are less likely to catch fire than other cars.

Tesla didn’t immediately respond to a request for comment on Monday, but the company’s executive director Elon Musk recently admitted quality issues with its popular Model 3 sedan in an interview with Sandy Munro, an auto industry consultant.

Last week, Tesla recalled 135,000 vehicles in the U.S. to address a touchscreen issue on its S and Y models. It was found that the screens had a high error rate. Tesla had initially refused to recall the cars but was pressured by the National Highway Transportation Safety Administration.

In a letter to the US security agency last month, a Tesla executive said the screens that drivers use to control many functions of their cars shouldn’t last more than five or six years.

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World News

Biden could draw ‘crimson strains’ in opposition to Chinese language authoritarianism

Chinese President Xi Jinping will take part in the WEF Virtual Event of the World Economic Forum of the Davos Agenda and will give a special address via video link in Beijing, the capital of China, on January 25, 2021.

Li Xueren | Xinhua News Agency | Getty Images

An anonymous author, himself described as a former senior government official with deep expertise and experience in China, released an exceptional Atlantic Council strategy paper this week.

Its goal is to shape the strategy of the Biden government towards Beijing – with President Xi Jinping as the main focus.

What makes the paper worth reading, all 26,000 words, are the author’s insights into China’s internal workings and party rifts, the author’s solutions to the current lack of a coherent US national strategy towards Beijing, and the paper’s controversial demand for the Biden government to draw They “red lines” which “lead to direct US intervention if deterrence fails”.

“The list of red lines in the United States should be short, focused and enforceable,” the author writes, undermining “China’s tactics for many years … to blur the red lines that otherwise became too early to face open confrontation with.” the United States. ” Beijing’s favor. “

The paper argues that these red lines should include:

  • Any nuclear, chemical, or biological weapons action by China against the United States or its allies or North Korea in which China has not taken decisive action to prevent such North Korean action.
  • Any Chinese military attack against Taiwan or its offshore islands, including an economic blockade or major cyberattack on Taiwan’s public infrastructure and institutions.
  • Any Chinese attack on Japanese forces in defense of Japanese sovereignty over the Senkaku Islands and the surrounding exclusive economic zone in the East China Sea.
  • Any major hostile action by China in the South China Sea to further retake and militarize islands, use force against other claimants, or prevent complete freedom of navigation by the United States and Allied naval forces.
  • Any Chinse attack on the territory or military property of allies of the US treaty.

The red line call is already fueling debate among China experts around the world, despite the fact that the paper wasn’t released until Thursday. The dispute affects those who believe that setting clearer boundaries would reduce Chinese aggression and those who believe that setting such red lines is an invitation to U.S. humiliation if not enforced or undesirable Conflict when enforced.

What has led to an even bigger debate, however, is the paper’s unique focus on China’s leaders and behavior, which since rising to power in 2013 has made the country more externally assertive and internally repressive, most recently tightening restrictions on private companies and has strengthened the role of state-owned companies.

“The main challenge facing the United States in the 21st century is the rise of an increasingly authoritarian China under President and Secretary-General Xi Jinping,” the anonymous author writes. “US policy strategy must continue to focus on Xi, his inner circle, and the China political context in which they govern. Changing their decision-making requires understanding, acting, and changing their political and strategic paradigm. All US policy aims at this starting from changing China’s behavior should revolve around that fact or it will likely prove ineffective. ”

It may seem like a simple, logical exercise that as time goes on as a country becomes more authoritarian and power is increasingly invested in a person, any strategy for managing that country must begin at the top. Experts have been approaching Putin’s Russia through this lens for some time.

However, the first debate this week after The Longer Telegram was released ranged from one former senior US official who welcomed the paper for its clear and straightforward focus on Xi, to another who feared it would be US Approach would be considered as confirmation of regime change that could only exacerbate tensions.

The author hopes his paper will be an important step “towards a new American China strategy,” which includes ten key elements outlined in the paper, from eliminating domestic economic and institutional weaknesses to fully coordinating with it important allies are sufficient so that all important action is taken in response to China being taken in unity.

The author argues that any US strategy should be based on “the four pillars of American power”: the power of its military, the role of the dollar as a global reserve currency and pillar of the international financial system, continuation of global technology leadership, and the values ​​of individual freedom , Fairness and the rule of law “despite recent political divisions and difficulties”.

It was the author’s immodest decision to name this extraordinary work “The Longer Telegram” and boldly relate it to George Kennan’s famous “Long Telegram” of February 1946, which originally came off its seat as a cable labeled “Secret” was sent to the State Department Deputy Head of Mission at the US Embassy in Moscow.

This “Lange Telegram” found its place in history when it was published in July 1947 by Foreign Affairs magazine under the pseudonym “X”. Historians acknowledge Kennan for the further development of the containment policy towards the Soviet Union, which was ultimately successful, “anchored in the analytical conclusion that the USSR would ultimately collapse under the weight of its own contradictions,” the anonymous author now writes.

Kennan was guided by his knowledge of how the Soviet Union worked internally, and the author argues that US strategy must once again be based on a better understanding of what is inside China. What is different now, the author argues, is that the Chinese system “is much more adept at surviving” after learning from the collapse of the Soviets.

He rejects the Trump administration’s approach of attacking the Chinese Communist Party as a whole without mentioning the former US president. He argues that this would be “strategically self-destructive” and would only serve to enable President Xi to unite a CCP that is “severely divided over Xi’s leadership and enormous ambitions.”

What would success look like?

The author clearly replies: “Until the middle of the century, the United States and its key allies will continue to dominate the regional and global balance of power across all major power indices. China has been prevented from taking Taiwan militarily. It was Xi.” replaced by a more moderate party leadership, and that the Chinese people themselves have challenged and questioned the Communist Party’s centuries-old claim that China’s ancient civilization is forever destined for an authoritarian future. “

It’s hard to argue with these goals. and even more difficult to achieve.

Frederick Kempe is a best-selling author, award-winning journalist, and President and CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs. He worked for the Wall Street Journal for more than 25 years as a foreign correspondent, assistant editor-in-chief and senior editor for the European edition of the newspaper. His latest book – “Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth” – was a New York Times best seller and has been published in more than a dozen languages. Follow him on Twitter @FredKempe and subscribe here to Inflection Points, his view every Saturday of the top stories and trends of the past week.

More information from CNBC staff can be found here @ CNBCopinion on twitter.

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Business

What occurred when one Chinese language metropolis shut down after new Covid outbreak

Volunteers in protective suits disinfect in a residential area of ​​Tonghua, China on January 24, 2021.

Visual China Group | Getty Images

BEIJING – A small Chinese town’s rush to control coronavirus has left some residents without food and some officials without work.

The fallout shows the extreme lengths to which the local Chinese authorities will attempt to contain the coronavirus. While the number of new cases in China this year is far below those in other countries, the strict preventive measures can quickly lead to major disruptions in work and daily life.

After a spike in Covid-19 cases in mid-January, the city of Tonghua, about a 10-hour drive northeast of Beijing, announced on Wednesday that no one could leave the city. Authorities added that all of the apartment complexes were essentially locked.

The folks who stuck home and had little time to get groceries turned to smartphone-based delivery apps, but many complained online that they couldn’t get their orders, according to the posts on Weibo, China’s version from Twitter.

On Saturday, the Communist Party’s local Disciplinary and Inspection Commission fired three officials for their poor performance in monitoring the pandemic situation, state media said. Eleven other officers received severe warnings, the report said.

On Sunday, Tonghua City apologized to its 500,000 residents for the “untimely” delivery of daily necessities and general inconvenience. The city added there was a severe labor shortage but sufficient food.

More than 11,000 people left mostly angry comments in a national state media post, apologizing for Weibo. Some users described how they or neighbors were starving and not receiving their orders for three or four days.

Many user comments found that Eleme, an Alibaba-supported grocery delivery app, cannot be ordered. The company did not immediately respond to a CNBC request for comment.

Nasdaq-listed Dada, a food company that saw growth spurt during the lockdown of the first coronavirus outbreak last year, said none of its two apps operate in the city of Tonghua.

Covid-19 first appeared in the Chinese city of Wuhan in late 2019. Chinese authorities closed more than half the country in February 2020, and the outbreak stalled domestically within weeks. Meanwhile, the virus accelerated its spread overseas in a global pandemic.

New domestic cases have emerged in China in the past two months with cold winter weather and a sustained number of overseas visitors. Northeastern Jilin Province, where Tonghua City is located, is the third most severely affected region. In January alone, 273 new confirmed coronavirus cases were reported.

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Business

Chinese language electrical automotive start-up Xpeng will get $2 billion in credit score

He Xiaopeng, CEO of Xpeng, stands next to the company’s P7 electric sedan speaking to the media at the 2020 Beijing Auto Show.

Evelyn Cheng | CNBC

In July 2020, local branches of four of the “Big Five” banks granted Nio 10.4 billion yuan in loans for the startup’s China activities in Hefei near Shanghai. Participants in this deal included China Construction Bank, Industrial and Commercial Bank of China, Bank of China and Agricultural Bank of China, according to an announcement by Nio.

In China’s state-dominated system, banks prefer to lend to state-owned companies. This makes it difficult for private companies to obtain funding unless they can convince state banks of their ability to repay loans.

Xpeng’s credit line announcement comes after the company raised more than $ 4 billion last year from its IPO on the New York Stock Exchange in August and a follow-up offering in December.

Shares have risen more than 195% since going public.

Where is the money going?

The start-up did not reveal details of the loan terms on Tuesday. The agreement will help the Guangzhou-based company expand its manufacturing, sales, service and other activities, according to a press release.

Xpeng said it started building a second factory in November. The company opened 116 retail stores and 50 service centers as of September 30. Xpeng announced in September that it was investing in the development of flying vehicles.

Deliveries totaled 27,041 last year, with more than half coming from a new P7 sedan that began mass deliveries in late June. The company added that it shipped 100 units of its G3 SUV to customers in Norway in December.

Although total deliveries have more than doubled compared to the previous year, Xpeng’s numbers fell short of Nio’s more than 43,700 deliveries. Nio’s vehicles have hit the high end of the market while Xpeng’s price range has been lower.

In the past two weeks, both companies have announced plans for new sedans. Nio’s is expected to arrive in the first quarter of next year. Xpeng claims its sedan will be delivered later this year.

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Business

Right here Are the eight Chinese language Apps Trump Banned

WASHINGTON – President Trump signed an ordinance on Tuesday banning transactions using eight Chinese software applications, including Alipay, the Ant Group’s payment platform, and WeChat Pay, owned by Tencent.

The move, two weeks before the end of Mr Trump’s term in office, could help secure his administration’s tougher stance on China and is likely to add further turmoil to Beijing. However, determining the scope of the order and enforcing it would presumably be left to the future Biden administration, which has not clarified whether it will attempt to enact Mr Trump’s bans, creating uncertainty about the effectiveness of the move.

The Executive Order, issued on late Tuesday, blocks all transactions with “persons who develop or control the apps from Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, WPS Office and their subsidiaries” days after 45 years .

In the ordinance, the president said China had used “bulk data collection” to advance its economic and national security agenda, and that the targeted apps would put Americans at risk.

“The United States has found that a number of China-related software applications are automatically collecting vast amounts of information from millions of users in the United States, including sensitive personal data and private information,” the mandate said. “At this point in time, action must be taken to address the threat posed by these China-related software applications,” he wrote.

The executive order is the Trump administration’s recent escalation against China. Under Mr. Trump, the White House raised tariffs and waged a trade war. It has also reached out to Chinese social media services, which are a channel for Chinese espionage and pose a national security risk to the American public. Last fall, the Trump administration issued Executive Orders banning two other popular Chinese social media services, TikTok and WeChat.

However, both bans are involved in litigation and the services continue to operate in the United States. This begs the question of whether American courts will issue an injunction to stop Mr Trump’s recent bans on Chinese services.

In a briefing Tuesday evening, a senior Trump administration official said that prevalence was still expected in these lawsuits and that the legal challenges for the TikTok and WeChat orders had centered on first adjustment rights, which most likely would not be a concern regarding the payment platforms and other apps that are affected by the last order.

The senior official also said the Trump administration had no contact with the Biden administration because of the order. The Biden administration did not immediately respond to a request for comment.

Tencent declined to comment. The other Chinese tech companies affected by the order did not have an immediate comment.

Economy & Economy

Updated

Jan. 5, 2021, 1:06 p.m. ET

The scope of the order may be limited as the vast majority of users of the affected apps live in China. For example, Alipay users are generally required to have a bank account in China and a Chinese cell phone number. Samm Sacks, a cybersecurity politician and fellow of the Chinese digital economy at the New America Think Tank, said it was unlikely that many of the apps included in the executive order would process a lot of data from American citizens.

Still, the restrictions could fall heavily on Chinese-Americans traveling between countries or using the services to keep in touch or do business with contacts in China.

The move could also affect President-elect Joseph R. Biden Jr., who has hinted that he will recalibrate American policy towards China while continuing to pressurize the country on some issues.

“The Executive Order will take effect on Biden’s watch,” said Ms. Sacks. “Even if his team doesn’t buy the national security risk, it will be politically difficult to do the job without looking like a concession to Beijing. I see the order as a last minute thrashing to try to tie Biden’s hands. “

The new order mandates the Minister of Commerce to identify the type of transactions that will be affected in 45 days. It also instructs the secretary to identify other apps and take appropriate action, and make broader recommendations on how the United States should develop a program to control the flow of U.S. personal data to foreign adversaries, the senior Trump administration official said . The official said the order was not intended to prevent Chinese companies from paying their employees in the United States.

In a statement, Wilbur Ross, the trade secretary, said he had directed his department to begin executing the orders, “including identifying prohibited transactions related to certain China-related software applications.”

“I stand by President Trump’s commitment to protecting the privacy and security of Americans from threats from the Chinese Communist Party,” he added.

The executive order came as the Trump administration and members of Congress also put pressure on the New York Stock Exchange on Tuesday to remove China’s three major state-owned telecommunications companies from the stock exchange.

The exchange late Monday had reversed its original plans announced last week to separate the companies from the government in an attempt to halt American investment in companies related to the Chinese military.

Alan Rappeport and David McCabe contributed to the coverage.

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World News

NYSE says it would now not delist three Chinese language telecom giants

The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants and overturned a decision announced four days earlier.

The NYSE said late Monday it dropped the plans after “further consultations with relevant regulators related to the Bureau of Foreign Wealth Control”.

Hong Kong-listed stocks of China Telecom, China Mobile and China Unicom rebounded on news of the reversal.

On Thursday, the NYSE announced that it would delist American custody shares of the companies under an executive order signed by President Donald Trump. The November regulation was designed to prevent American companies and individuals from investing in companies that the Trump administration claimed to have helped the Chinese military.

Big stock index giants like MSCI, S&P Dow Jones Indices and FTSE Russell, as well as popular trading app Robinhood, have also taken steps to fulfill the executive order.

The Chinese Securities Commission said Monday that the executive order was based on “political purposes” and “completely ignored the real situations of relevant companies and the legitimate rights of global investors, and severely damaged market rules and regulations”.

Trump’s investment ban will go into effect next Monday, just over a week before President-elect Joe Biden’s inauguration.

Biden is unlikely to make any immediate changes to US-China relations, but has repeatedly stated that he would prefer to work with US allies to enforce “traffic rules” for world trade.

Still, this approach would be at odds with that of the Trump administration, which often took aggressive, unilateral measures to challenge China on economic and national security issues.

– CNBC’s Evelyn Cheng contributed to this report.

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China response on delisting of Chinese language firms on New York Inventory Trade

A woman adjusts a Chinese flag near US flags.

Ng Han Guan | AFP | Getty Images

We’ll have to see if the Chinese government will retaliate against the US. But I think the actual things to be done won’t matter …

Ronald Wan

non-executive chairman at Partners Financial Holdings

When asked if more Chinese companies could be delisted, Brendan Ahern, chief investment officer of the investment firm KraneShares, said: “I don’t see any expansion of these three specific names just because it was really driven by this executive order.”

Speaking to CNBC’s Squawk Box Asia on Monday, he said the order could “reverse course” after President-elect Joe Biden was sworn in on Jan. 20.

He added that on the Chinese side, Beijing “wants the Biden government to really start the relationship over.”

Ronald Wan, non-executive chairman of Partners Financial Holdings, added that the measures Beijing is taking are unlikely to be “significant”.

“We’ll have to see if the Chinese government will retaliate against the US. But I think the actual actions won’t matter, which may restrict some type of US government-affiliated company, activity in China or Hong Kong. But I think the government is still welcoming US capital and funds to get into the Asian and Hong Kong markets, “he told CNBC’s Street Signs Asia on Monday.

Ahern said investors in the three US-listed stocks – China Telecom, China Mobile and China Unicom – will be able to convert them into their Hong Kong-listed stocks.

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Health

Turkey and Brazil Say Chinese language Vaccine Efficient, With Sparse Supporting Knowledge

Turkish officials announced Thursday that a vaccine made by Chinese company Sinovac has an efficacy rate of 91.25 percent. However, the finding is based on preliminary results from a small clinical study, and none of the data has been published in a journal or published online.

The announcement came a day after another ambiguous press conference, also on Sinovac’s vaccine, in Brazil. Officials there were expected to provide detailed results from another study, but they only reported that the vaccine had an efficacy rate of over 50 percent.

A total of 7,371 volunteers were involved in the Turkish study, but efficacy data from Infectious Disease Expert Serhat Unal was based on just 1,322 participants, of whom 752 received a real vaccine and 570 received the placebo.

Dr. Unal said that 26 of the volunteers who received the placebo developed Covid-19 while only three of the vaccinated volunteers became ill. He and his colleagues did not pass on their data in writing.

“Now we are sure that the vaccine is effective and safe for the Turks,” said Fahrettin Koca, the health minister.

Sinovac did not make a public statement about the trial, nor did he comment on the trial in Brazil.

Updated

Apr. 25, 2020, 4:08 pm ET

The small number of volunteers that the Turkish researchers relied on to calculate effectiveness raised questions about the safety of their conclusions. The more people take part in a vaccine clinical study, the more statistical it is.

In contrast, Pfizer and BioNTech provided data on 36,523 people to show that the vaccine had a 95 percent effectiveness rate. For their vaccine, 162 people who received the placebo developed Covid, compared to eight people in the group who received the vaccine.

Turkey has signed a contract with Sinovac for 50 million doses of the vaccine. The first three million cans are due to arrive in Turkey on Monday, Koca said. Mr Koca said Turkey will also receive 4.5 million doses of the Pfizer BioNTech vaccine by the end of March. Around 1 million cans are expected to arrive by the end of January, he said.

CoronaVac, as Sinovac calls its vaccine, is made from killed coronaviruses. The method is one of the oldest for making vaccines that Jonas Salk used to make a vaccine against polio in the 1950s. After viruses are inactivated with chemicals, they cannot make people sick, but they can stimulate the immune system to make antibodies that can provide long-term protection against live viruses.

Sinovac developed CoronaVac in early 2020 and then conducted a number of clinical studies. They published their results in November. There they reported that the vaccine appeared safe and produced an immune response against the coronavirus.

The company then moved on to phase 3 trials in Brazil, Indonesia and Turkey, three countries with high rates of Covid-19.

Health officials in Brazil said Wednesday that the Chinese vaccine had passed safety and effectiveness tests that would pave the way for its use in Brazil. However, they postponed the publication of detailed data from clinical trials in Brazil on which these results are based, citing a contractual agreement with Sinovac. Dimas Covas, the director of the butantane institute that conducted the trials, said a joint announcement could be made within two weeks.

“Today is a historic day for science and for Brazilian health,” Jean Gorinchteyn, Sao Paulo State Minister of Health, told reporters at a press conference. “This will allow us to save the lives of millions of people, not just in Brazil, but around the world.”