Moderna Set to Invest $1 Billion in China, Yicai Reports (1)

Moderna Inc. is set to announce its first investment in China as early as Wednesday as heightened geopolitical tensions puts the spotlight on the Asian nation’s efforts to rebuild ties with foreign firms.

The Cambridge, Massachusetts-based company that developed a messenger RNA vaccine for Covid-19 may reveal multiple projects in China with a total investment size of around $1 billion, local media outlet Yicai reported Tuesday, citing sources it didn’t identify. The drugmaker is also actively seeking communication with Chinese regulators, it said, without providing more detail.

Chief Executive Officer Stéphane Bancel is in Shanghai and will attend the investment ...