Shanghai Fosun Pharmaceutical Group announced on Monday it will acquire an approximately 74 percent stake in the Indian generic drug maker Gland Pharma, down from the 86 percent stake announced last July.
Shanghai Sanlian Publishing House has launched two books, Model Worker in the New Era: The Story of Li Bin and A Group that Shines, which focus on the lives of Shanghai workers who contributed to the city's development.
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Shanghai takes the lead in cosmetic product research and development, manufacturing, sales and consumption. The city accounted for 58 percent of China's imported makeup trade volume, and more than half of the country's non-special cosmetics are imported through Shanghai, according to Shen Jianhua, deputy chief of the Pudong Market Supervision Bureau.
Shadow Li, Kathy Zhang in Hong Kong, and Han Baoyi in London contributed to this story.
Shanghai Cooperation Organization calls for nations to find common ground
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Shares of Canada-based Canopy Growth, Aurora and Cronos Group are down about 29 percent each since Aug 1, and Tilray is down about 40 percent.
Several foreign insurance brokers are looking to expand their presence in China to cash in on opportunities arising from the gradual opening up of the country's insurance sector and the ambitious Belt and Road Initiative, sources said.
Shanghai saw a fruitful 2016, the report said. About 30 percent of China's top science and technology achievements have come out of Shanghai. More than a third of the national-level awards have been won by people and institutions in the city, and more than 30 percent of new Category 1 drugs were produced there, it said.
Shanghai will further expand its opening-up and strive to provide better, more convenient and more efficient services to help foreign businesses share the development opportunities in the city, said Shang Yuying, deputy secretary-general of the Shanghai municipal government.