Industrial Policy & Trade Monitor· 2663 actions· ✨ 89 recent

On June 8, 2026, the US Department of Defense published its annual update to the Section 1260H Chinese Military Companies (CMIC) list, adding 65 entities (17 new parent companies and 48 subsidiaries), bringing the total to approximately 188–200 designated entities. Major additions span EV and battery manufacturing (BYD, NIO, CATL), consumer internet (Alibaba, Baidu, Tencent), semiconductors (SMIC, YMTC, CXMT), solar (JA Solar, Trina Solar), biotech (BGI Genomics, WuXi AppTec), drones/robotics (DJI, Unitree, RoboSense), and telecoms (TP-Link). Effective June 30, 2026, DoD is prohibited from procuring goods, services, or technology directly from listed entities; effective June 30, 2027, the ban extends to indirect supply-chain procurement through prime contractors and all sub-tiers.

On 23 May 2026 President Javier Milei, Economy Minister Luis Caputo, and Chief of Staff Manuel Adorni announced the "Régimen de Incentivo para Grandes Inversiones en Nuevas Industrias" (Super RIGI), and on 26 May 2026 submitted the bill (Mensaje 181/2026, expediente 0005-PE-2026) to the Cámara de Diputados — pending Congressional approval as of filing. The regime applies a US$1 billion minimum investment threshold (with ≥20% committed in the first two years), a 15% corporate income tax rate (vs 25% under the base 2024 RIGI), accelerated depreciation of 60%/20%/20% over three years, immediate export-duty exemption (vs year 3 under RIGI), import-tariff exemption, and 30-year regulatory stability across tax, customs, social security, and FX matters. A progressive FX-liberalisation schedule allows 20% / 40% / 100% free disposal of export-generated foreign currency in years 1 / 2 / 3+. Target sectors are industries that "do not currently exist or are in experimental/pilot phase in Argentina," including semiconductors, AI data centres, advanced biotech, 100% electric vehicles, lithium value chain (downstream processing, cathode, battery), green hydrogen, solar panels, wind turbines, onshore LNG, SMR nuclear, aerospace, uranium value chain, potassium and phosphorus fertilisers, and new petrochemicals.

On 8 May 2026 China's National Health Commission released a public consultation draft proposing material amendments to the 2023 Implementation Rules for the Administrative Regulations on Human Genetic Resources, with a comment deadline of 7 June 2026. The draft narrows the statutory "foreign party" definition to a bright-line 50% equity/voting threshold (excluding VIE-structured entities), restricts "HGR Information" strictly to nucleic-acid sequence data (excluding clinical, imaging, and metabolic data), removes the separate Article 37 security-review requirement for sensitive HGR datasets, and introduces a same-day or next-working-day fast-track confirmation for international clinical trials not involving HGR information export.

The Decreto para la Autorización Inmediata de Inversiones, published in Mexico's Diario Oficial de la Federación on 4 May 2026, creates a streamlined investment-authorization mechanism under President Sheinbaum's Plan México strategy. The decree establishes an Investment Committee — composed of the Secretariats of Economía, Hacienda, SEMARNAT, SCT, Energía, and Bienestar — mandated to issue authorization certificates within 30 business days for qualifying projects, replacing the historic 6–18-month multi-agency backlog. Eligibility covers three tiers: projects in designated Polos de Desarrollo Económico para el Bienestar (Welfare Development Poles), investments of MXN 2 billion (≈USD 100M) or more, and projects in strategic sectors (semiconductors, EV batteries, critical minerals, automotive supply chain, medical devices, biotech, aerospace). This is the procedural- acceleration arm of Plan México, structurally distinct from the January 2025 Plan México tax-incentive decree (the fiscal arm), and operationalises the February 2026 Plan México expansion announced by Sheinbaum.

On 2 April 2026 President Trump issued a Presidential Proclamation under Section 232 of the Trade Expansion Act of 1962 ("Adjusting Imports of Pharmaceuticals and Pharmaceutical Ingredients into the United States") imposing a 100% ad valorem tariff on imports of patented pharmaceutical products listed in the FDA Orange Book and Purple Book, together with the active pharmaceutical ingredients (APIs) and key starting materials used to make them. The base rate takes effect at 12:01 a.m. EDT on 31 July 2026 for the 17 manufacturers identified in Annex III, and on 29 September 2026 for all other companies. The proclamation adopts findings of the Section 232 investigation initiated by the Department of Commerce on 14 April 2025 into pharmaceuticals and APIs as a national- security supply-chain risk. The instrument is structured around a multi-tier rate ladder rather than a flat tariff: concessionary 15% rates for EU/Japan/South Korea/Switzerland/Liechtenstein under reciprocal-deal tracks, 10% for the UK with a pathway to 0% under the pending UK pharmaceutical agreement, a "+20%" surcharge for companies operating under a Commerce-approved onshoring plan (until 2 April 2030), and a 0% pathway for companies that combine an approved onshoring plan with an MFN-pricing agreement with HHS (until 20 January 2029). Generics, biosimilars and their ingredients, orphan drugs, nuclear medicines, plasma-derived therapies, fertility treatments, and cell/gene therapies are carved out.

South Korea's 13th National Strategic Technology Special Committee (chaired by MSIT) adopted the 2026 Annual Implementation Plan for the First Basic Plan for National Strategic Technology Development (2024–2028), committing KRW 8.6 trillion in 2026 R&D investment — a ~30% YoY increase from KRW 6.5 trillion in 2025 — across 19 NEXT strategic-technology fields encompassing AI, semiconductors, quantum, displays, and secondary batteries, coordinated across 23 ministries. The plan is supplemented by KRW 46.6 trillion in policy finance delivered through Korea Development Bank (KDB), Industrial Bank of Korea (IBK), Korea Credit Guarantee Fund (KCGF), and Korea Technology Finance Corporation (KOTEC), providing the horizontal funding-coordination architecture that operationalises all sector-specific Korean strategic-technology legislative instruments.

The US Department of Commerce published its final affirmative determination of sales at less-than-fair-value in the antidumping investigation of animal feed-grade L-lysine (lysine) from China (case A-570-215) on 23 July 2026, following a preliminary determination published 6 March 2026 (91 FR 11030). Commerce found a China-wide weighted-average dumping margin of 139.83% (cash deposit rate 139.65% after subsidy-offset adjustment), based on adverse facts available after Commerce found Zhengzhou Longgu Trading Co., the sole company with a calculated margin, and the Eppen Group group of producers/exporters uncooperative and ineligible for a separate rate in the final determination. A group of separate-rate companies — including Anhui BBCA Biochemical, Heilongjiang Wanlirunda Biotechnology, and others exporting through trading intermediaries such as Agromate Sg, Ainore (Tianjin), and Aollen Biotech — received a 73.55% dumping margin (73.37% cash deposit rate). The order covers lysine regardless of form (HCl, sulfate, liquid) under HTSUS 2922.41.0090 and related subheadings. A companion countervailing-duty investigation (preliminary 22 January 2026, 91 FR 2745) was finalized the same day; suspension of liquidation runs from 6 March 2026, with a final AD order contingent on an ITC injury determination due within 45 days of the final LTFV finding.

Gujarat Chief Minister Bhupendra Patel launched the Gujarat Science, Technology and Innovation (STI) Policy 2026–2031 on 1 March 2026 at the SemiConnect 2026 Conference in Gandhinagar, establishing a five-year ₹1,000 crore Swadeshi Anusandhan Fund (Indigenous Innovation Fund) for domestic R&D across strategic sectors including AI, semiconductors, quantum technologies, biotechnology, green energy, and defence. The policy targets state STI expenditure of 1% of GSDP by 2030, creation of 1 lakh skilled research professionals, 1,000+ IP filings annually, and builds three Gujarat Rajya Research and Innovation Cluster (GRRIC) corridors to anchor the state's growing semiconductor manufacturing ecosystem.

The US Department of Commerce published its final affirmative countervailing-duty (CVD) determination on animal feed-grade L-lysine from China (case C-570-216) on 23 July 2026, the companion subsidy proceeding to the parallel antidumping case (A-570-215) finalized the same day. Commerce found Heilongjiang Wanlirunda Biotechnology Co., Ltd. and Shouguang Golden-land Industry & Trading Co., Ltd. received countervailable subsidies at 82.11%, while Inner Mongolia Eppen Biotech Co., Ltd. and all other Chinese producers/exporters were assigned a 48.21% subsidy rate. The preliminary CVD determination, published 22 January 2026, set the initial cash-deposit rates and suspension of liquidation; the final determination confirmed and aligned the case with the AD final determination for a joint ITC injury vote.

On 25 December 2025 Shanghai's Huangpu District Science and Technology Commission and Investment Promotion Office jointly issued Huangkeweigui [2025] No. 3, "Several Measures of Huangpu District on Promoting Brain-Computer Interface Innovation and Transformation Services (Trial)" (informally the "BCI Service 10 Provisions"), effective 24 January 2026 and valid through 31 December 2027. The measures subsidize BCI core- technology R&D and district co-funding of national/municipal projects (up to CNY 2m, 1:1 district match), shared innovation-platform construction (up to 30% of investment, capped CNY 2m), registered medical-device commercialisation (up to 40% of R&D cost, capped CNY 5m/ year per entity), application-demonstration scenarios (up to 30% of investment, capped CNY 2m), enterprise-growth and unicorn/gazelle recognition rewards (CNY 20k-100k), industrial-park operator support (up to CNY 2m/year), equity-financing support (up to 10% of R&D cost, capped CNY 2m, for firms with ≥CNY 20m in equity funding), and international BCI conference/event sponsorship (up to 30%, capped CNY 500k).

On 25 December 2025 Shanghai's Huangpu District Science and Technology Commission and Investment Promotion Office jointly issued Huangkeweigui [2025] No. 2, "Several Measures on Focusing on Translational Medicine to Accelerate Industry-Medicine Integration Innovation and Development," effective 30 days after promulgation (4 February 2026 per Global Trade Alert tracking) and valid through 31 December 2027. The measures subsidize cell-and-gene therapy, mRNA, synthetic biology, regenerative medicine and digital-medicine R&D (up to CNY 2m/year per entity), platform/lab construction (up to 30% of investment, capped at CNY 2m), use of the district's translational-medicine national science facility (up to 50% of annual usage fee, capped at CNY 1m), and domestic Class 1 new-drug clinical trials (Phase I up to CNY 2m, Phase II up to CNY 5m, capped at CNY 50m/year per entity), plus annual support for biopharma industrial- park operators (up to CNY 2m/year).

Uruguay's Poder Ejecutivo promulgated Decreto Nº 329/025 on 23 December 2025, comprehensively overhauling the general investment-promotion framework established under Ley Nº 16.906 (1998) and replacing Decreto 268/020. Administered by COMAP under the Ministerio de Economía y Finanzas, the decree entered into force on 1 February 2026 with a coexistence transition period through 30 April 2026 and became the sole operative instrument from 1 May 2026. The decree extends project timelines, creates tiered investment categories (including a mega-investment tier providing up to 25-year IRAE exemptions), expands incentives for SMEs, and explicitly calibrates the scoring matrix toward decentralisation, innovation, export capacity, and strategic sectors including data-centers, green hydrogen, sustainable forestry-pulp, agtech, and global business services.

Section 851 of the FY 2026 National Defense Authorization Act (P.L. 119-60), signed December 18, 2025, prohibits US federal agencies from procuring biotechnology equipment or services from designated "biotechnology companies of concern" (BCCs), and bars federal contractors from using such equipment/services in work performed under federal contracts, grants, or loans. The final enacted text ties initial BCC designations to DoD's existing §1260H Chinese-military-company list (which currently includes BGI and MGI, but not WuXi AppTec or WuXi Biologics) and directs OMB to designate additional BCCs within one year of enactment; operational prohibitions activate 60-90 days after FAR revision, with a five-year grandfather period for pre-existing contracts — enforcement is expected to begin in 2027-28. The legislation is the successor to H.R.8333 (118th Congress, House-passed September 2024 but stalled in the Senate before adjournment) and represents the first enacted US federal-procurement biotech-supply-chain-resilience statute.

On 16 December 2025 the European Commission adopted in Strasbourg the Proposal for a Regulation establishing a framework of measures for strengthening the Union's biotechnology and biomanufacturing sectors particularly in the area of health — the "European Biotech Act" (COM(2025) 1022 final). The proposal is the third axis of the EU's pharma/biotech industrial-policy stack alongside the Critical Medicines Act (filed: 2025-03-11-eu-critical-medicines-act-proposal) and the US Section 232 pharmaceuticals track (filed: 2026-04-02-us-section-232-pharmaceutical-proclamation), and is explicitly designed to keep biotech innovation, investment, and biomanufacturing capacity in Europe in the face of US/China competitiveness pressure. Core instruments: (1) statutory recognition for "Health Biotechnology Strategic Projects" (HBSPs) and "High-Impact" HBSPs eligible for accelerated permitting via a single national contact point, plus administrative/technical/ financial support; (2) regulatory sandboxes for novel biotech and biomanufacturing modalities; (3) a 12-month Supplementary Protection Certificate extension for qualifying biotech and advanced-therapy medicines; (4) targeted simplification of existing EU life-sciences acquis (clinical-trial timelines, risk-proportionate requirements); (5) an EU Health Biotechnology Investment Pilot co-developed with the EIB Group, paired with a EUR 10bn 2026-27 EIB-Commission financing initiative; (6) biosecurity safeguards including a list of "biotechnology products of concern" and mandatory built-in screening for benchtop nucleic-acid synthesis devices. A second tranche covering industrial biotechnologies and biomanufacturing outside health is expected later in 2026.

In the early hours of 11 December 2025 the Council of the EU and the European Parliament reached provisional political agreement in trilogue on the "EU Pharma Package" — the revised pharmaceutical Regulation (COM 2023/0131) and Directive (COM 2023/0132) — the most significant overhaul of EU pharmaceutical legislation in over two decades. The package replaces Directive 2001/83/EC (Community Code on medicinal products for human use) and Regulation (EC) 726/2004 (the EMA Regulation), and consolidates the orphan-medicine (Regulation 141/2000) and pediatric-medicine regulations into a single framework. Headline provisions: (i) a new "8+1(+1)(+1)" IP-incentive architecture — 8 years of regulatory data protection plus 1 year of market protection, with up to two additional 12-month extensions for products addressing unmet medical need or new active substances meeting comparative-trial conditions, capped at 11 years total; (ii) an EU-wide list of critical medicines under enhanced governance via the Medicines Shortages Steering Group (MSSG) and an EMA "list of critical shortages in the EU"; (iii) mandatory shortage-prevention plans on marketing-authorisation holders for prescription medicines and Commission-designated products; (iv) modernisation of clinical-trial requirements, environmental-risk assessment, antimicrobial stewardship, and a transferable-exclusivity-voucher (TEV) regime to incentivise novel antibiotic R&D. The COREPER I committee endorsed the compromise text on 6 March 2026 and final adoption by Parliament and Council is expected during summer 2026, with the regulatory framework becoming applicable in 2028.

Singapore's National Research Foundation (NRF), under the Prime Minister's Office, launched the five-year Research, Innovation and Enterprise 2030 Plan on 5 December 2025, allocating S$37 billion (approximately 1% of GDP) for 2026-2030. The plan succeeds RIE2025 (S$25 billion) and introduces two named RIE Flagships and two RIE Grand Challenges; the first Flagship is in semiconductors and is explicitly aimed at making Singapore a strategically important R&D and manufacturing node in the global semiconductor supply chain. The budget envelope is split 24% foundational research, 20% innovation and enterprise, 17% infrastructure / new programmes ("white space"), 10% talent development.

On 13 November 2025, the United States and the Republic of Korea released a Joint Fact Sheet reaffirming the July 2025 announcement of the Korea Strategic Trade and Investment Deal — the first standalone US-Korea trade-and-investment agreement since the 2012 KORUS FTA. USTR issued the implementing Federal Register notice (90 FR 55964, Notice 2025-21940) on 3 December 2025, effective 4 December 2025, with retroactive HTSUS application to 1 November 2025 for autos and auto parts and to 14 November 2025 for reciprocal-tariff goods, timber, lumber, derivatives, and certain aircraft and aircraft parts. On the US tariff side: (i) the country-specific IEEPA reciprocal tariff on Korean originating goods is set at the higher of the KORUS FTA / MFN rate or 15% (parallel to the Japan and EU framework deals); (ii) the Section 232 tariffs on autos, auto parts, timber, lumber and wood derivatives are reduced to 15% (no incremental duty when the pre-existing KORUS/MFN rate already meets or exceeds 15%); (iii) Korean exports of qualifying goods on the Potential Tariff Adjustments for Aligned Partners (PTAAP) list are exempt from reciprocal tariffs (covering generic pharmaceuticals and unavailable natural resources); (iv) Section 232 pharmaceuticals capped at 15%; semiconductors granted MFN-style "no less favourable" treatment in any future sectoral deal. On the investment side, Korea commits to a USD 350bn package: USD 150bn into US shipbuilding ("Approved Investments") plus USD 200bn into US strategic industries via a separate Strategic Investments MOU, with annual currency-funding cap of USD 20bn. Non-tariff commitments include streamlined US biotech approvals on the Korean side, US meat and cheese market access, fair treatment for US digital services, removal of Korea's 50,000-unit cap on US vehicles meeting FMVSS, and joint WTO support for the moratorium on customs duties on electronic transmissions.

Japan's Cabinet adopted a Cabinet Order on 11 November 2025 (promulgated 14 November 2025, effective 14 February 2026) amending Appended Table 1 of the Export Trade Control Order (輸出貿易管理令) to add three new list-control item categories: (i) peptide synthesizers and related components (Item group mapping to Australia Group 2023–2024 plenary dual-use biotechnology controls, aligning Japan with the US BIS implementation promulgated December 2024), (ii) powders of refractory metals or their alloys below specified particle-size and purity thresholds — tungsten, molybdenum, niobium, tantalum, and rhenium powders used as additive- manufacturing feedstocks (Item 5(20), implementing a Wassenaar Arrangement plenary outcome on metal-powder dual-use), and (iii) modules, assemblies, or devices incorporating field-programmable logic devices (FPGAs) above specified gate-count and process-node thresholds (Item 7(10-2), extending Japan's semiconductor-component AI-compute perimeter). This is the first discrete Appended Table 1 list-control amendment filed under the post-October-2025 FEFTA catch-all- controls overhaul architecture.

The National Reconstruction Fund Corporation (NRFC), Australia's AUD 15 billion sovereign industrial-financing vehicle, took a AUD 54 million (~USD 35 million) equity stake in Synchron, a Melbourne-founded (now US-headquartered) brain-computer interface company, announced 7 November 2025. The investment forms part of Synchron's broader ~AUD 305-308 million (~USD 200 million) Series D raise alongside investors including Qatar Investment Authority, In-Q-Tel and Double Point Ventures, and is earmarked to fund final clinical trials and US FDA regulatory approval of Synchron's Stentrode device — a minimally-invasive BCI implanted via blood vessel without open brain surgery. NRFC frames the deal as commercialising Australian-origin technology and building sovereign medical-device manufacturing and clinical-trial capability.

The Chongqing Municipal People's Government General Office issued "Several Measures for Chongqing's Full-Chain Support of High-Quality Innovative Drug Development" (Yu Fu Ban Fa [2025] No. 56) on 2025-11-01, a 25-point package of regulatory-fast-track and procurement-support measures for the municipal biopharma sector. It targets 1-3 newly approved innovative drugs per year through 2027 (10 total) and the cultivation of 3 pharmaceutical-innovation industrial complexes, 3 high-level innovation platforms, and 3 innovative-drug industry clusters. No direct subsidy or tax-incentive amount is disclosed in the published text — the package is operational (compressed clinical-trial and registration timelines, guaranteed hospital procurement) rather than a cash grant.

On 28 October 2025, Saudi Arabia's Local Content & Government Procurement Authority (LCGPA) signed five localization and knowledge-transfer agreements on the sidelines of the Global Health Exhibition 2025, covering domestic manufacture and technology transfer for the biologic drugs etanercept and adalimumab (both used to treat chronic inflammatory / autoimmune conditions) and for orthopedic trauma implants. The adalimumab agreement was signed separately with Boston Oncology Arabia and Tabuk Pharmaceuticals. Boston Oncology's own disclosure of its adalimumab/ etanercept agreement (announced 4 November 2025) put the combined economic impact at over SAR 1.2 billion in cumulative GDP contribution and approximately 500 direct jobs, with production sited at its Sudair Industrial City facility (USFDA/EMA/SFDA-standard). Global Trade Alert's tracking of the same state act records seven counterparties in total (Boston Oncology, Tabuk Pharmaceuticals, Rameem Medical, Bio Vision, Sudair Pharma, Almana Company, and an additional pharma manufacturer), consistent with LCGPA's practice of bundling several related product-localization signings into one event.

The UK Department for Science, Innovation and Technology and the Office for Life Sciences launched the Life Sciences Transformational R&D Investment Fund (TRIF) Pilot, a GBP 50 million (approx. USD 67.4 million) capital grant scheme for large-scale R&D projects in the life sciences sector. Only projects with total costs of at least GBP 100 million qualify, with grants typically covering 10-20% of total project costs. The pilot runs on a rolling-application basis until 31 March 2028 or until funding is exhausted.

On 17 September 2025 the General Office of the Shanghai Municipal People's Government issued Hufubangui [2025] No. 8, a five-year (26 September 2025 - 25 September 2030) state-aid framework to accelerate frontier-technology innovation and cultivate "future industries" across six domains — future manufacturing, future information, future materials, future energy, future space and future health. Targeted technology areas include cell and gene therapy, brain-computer interfaces, biomanufacturing, embodied intelligence (humanoid robotics/AI hardware), fourth-generation semiconductors, silicon photonics, 6G, neuromorphic computing, quantum technology, controlled nuclear fusion and regenerative medicine. Support is disbursed as tiered direct subsidies rather than tax relief, with named ceilings up to CNY 30 million per proof-of-concept/R&D platform and CNY 20 million per high-quality incubator or first-product/batch innovation award.

The Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to add 32 entities to the Entity List, with the largest bloc — 23 entries — under the destination of China, plus India (1), Iran (1), Singapore (1), Taiwan (1), Turkey (3), and the United Arab Emirates (2). The rule also removed two addresses from one Russian entry (Intertech Rus LLC) and made 27 typographical corrections to existing entries. Several Chinese additions — including Shanghai Fudan Microelectronics, Sino IC Technology, GMC Semiconductor (Wuxi), and Chinese Academy of Sciences units (National Time Service Center; Aerospace Information Research Institute) — were given footnote 4 designations, extending the EAR's foreign-direct-product (FDP) reach to non-US-origin items destined for Russian military end use. Three Turkish entries (Atempo, EB Teknoloji, Dentun Elektronik) and one Indian entry (AR Sales Pvt Ltd) were footnote-3 Russian Procurement Entity designations. The rule is a final rule effective September 12, 2025; all listed parties are subject to a license requirement for all items subject to the EAR with a presumption-of-denial review policy.

On 29 August 2025 the Pinggu District (Beijing) Science, Technology and Economic Informatization Bureau issued "Several Measures to Promote the High-Quality Development of High-End Manufacturing in Pinggu District" (平谷区促进高端制造业高质量发展若干措施), published to the district government portal on 25 September 2025 with a two-year validity period. The scheme offers manufacturers registered and operating in Pinggu a stack of output-growth, R&D, smart-factory, green-transformation, pharma/medical- device, auto-parts-supply-chain, and synthetic-biology subsidies, with per-recipient caps ranging from RMB 200,000 up to RMB 10 million for qualifying pharmaceutical/medical-device innovators.

The Hainan Provincial People's Government General Office issued "Several Policy Measures of Hainan Province for Further Supporting High-Quality Development of the Biopharmaceutical Industry" (Qiong Fu Ban [2025] No. 38) on 2025-08-14, effective 2025-09-13 for a three-year term. The package disburses provincial subsidies across the full biopharma value chain — R&D-stage grants, national centralized-procurement awards, international-certification bonuses, platform-investment reimbursement, and traditional-Chinese-medicine insurance-listing awards — leveraging Hainan Free Trade Port status to build a regional biomedical industry cluster.

Banque des Territoires, acting on behalf of the French State under the France 2030 programme, launched a EUR 500 million fund-of-funds called "Global Tech Coté" on 7 August 2025. The vehicle takes minority stakes (EUR 15 million minimum, capped at 10% of a target fund's subscribed capital) in privately-managed investment funds that in turn back publicly-listed French technology companies with strong growth potential, aiming to build up domestic asset-management capacity alongside the state's stated goal of channelling capital into equities. The selection window for management companies runs until 31 December 2026 or until the EUR 500 million envelope is exhausted, whichever comes first.

The National Reconstruction Fund Corporation (NRFC), Australia's AUD 15 billion sovereign industrial-financing vehicle, committed AUD 150 million to Brandon Capital's Brandon BioCatalyst 6 (BB6) fund, announced 24 July 2025. Brandon Capital — Australasia's largest life-sciences venture capital manager, with over AUD 1 billion under management — closed BB6 at AUD 439 million total, with the NRFC contribution the largest single commitment. The fund backs early- and late-stage Australian medical-science companies developing therapeutics, medical devices and vaccines, with roughly one-third earmarked for early-stage ventures and the remainder for late-stage clinical development and commercialisation. NRFC frames the deal as building sovereign medical-manufacturing and R&D capability and keeping Australian biotech IP and jobs onshore rather than migrating offshore for follow-on capital.

On 23 July 2025 the General Office of the Shanghai Municipal People's Government issued Hufu Bangui [2025] No. 5, "Several Measures to Support Enterprises in Strengthening Basic Research and Enhancing New Momentum for High-Quality Development," effective 1 August 2025 through 31 July 2030. The measure tiers one-time subsidies of CNY 2m-10m/year to enterprises based on basic-research investment (CNY 10m-50m, 50m-100m, and 100m+ investment bands), reimburses 50% of shared scientific- equipment usage fees (capped CNY 1m/year), and grants a 100% tax deduction for corporate donations to basic research at nonprofits and universities, with integrated circuits, biomedicine and artificial intelligence named as priority participating industries.

On 22 July 2025, BNDESPAR — the equity-investment arm of Brazil's national development bank BNDES — approved a BRL 114 million (approx. USD 20.5 million) minority equity subscription in Grupo Santa Clara, a Ribeirão Preto (São Paulo)-based producer of special fertilizers and bioinputs founded in 1997. The deal gives BNDESPAR a 19.9% stake, implying a company valuation near BRL 570 million, and is BNDESPAR's first direct variable-income (equity) operation since the bank reactivated its equity-participation strategy in June 2025 — a decade after its last direct stock investment. Proceeds are earmarked to expand Santa Clara's biofactory in Jaboticabal (SP) and fund the group's growth plan toward BRL 1 billion in revenue by 2030.

On 1 July 2025 India's Union Cabinet approved the Research Development and Innovation (RDI) Scheme, a six-year, ₹1,00,000 crore (≈USD 11.68 bn) fund to catalyse private-sector investment in research, development and innovation, with ₹20,000 crore allocated for FY2025-26. The scheme finances transformative RDI projects (TRL 4 and above) in strategic and sunrise sectors — deep tech, AI, biotechnology, quantum computing, robotics, space, energy transition and the digital economy — through long-tenor, low-or-nil-interest loans and equity, up to 50% of assessed project cost. Grants and short-term loans are explicitly excluded. Funds flow through a Special Purpose Fund under ANRF (first-level) to second-level fund managers — Alternate Investment Funds, Development Finance Institutions, NBFCs, and focused research bodies including the Technology Development Board (TDB) and BIRAC — which began issuing project calls in February 2026.

On 23 June 2025, BNDES president Aloizio Mercadante announced that BNDESPAR — the equity-investment arm of Brazil's national development bank — would resume direct variable-income (equity) investing after roughly a decade, committing up to BRL 10 billion (~USD 1.8bn) to companies and funds focused on ecological transition, decarbonization and innovation. The commitment splits into up to BRL 5 billion in direct equity investments (open to applicants through December 2025) and up to BRL 5 billion deployed via investment funds, funded from proceeds of BNDESPAR's sale of mature-company stakes and dividend receipts rather than new fiscal outlay. The bank framed the relaunch as strengthening Brazil's capital markets while directing state capital toward green-economy and innovation targets of all company sizes.

Slovakia's Office of the Deputy Prime Minister for the Recovery Plan and Knowledge Economy approved a EUR 160 million state-aid scheme ("Schéma štátnej pomoci na podporu znalostnej ekonomiky, výskumu, vývoja a inovácií") on 4 June 2025 to fund business-sector research, development and innovation projects, with emphasis on experimental development and industrial research. The office subsequently opened two calls under the scheme, in biotechnology and in robotics/automation, on 16 June 2025 (deadline 16 August 2025); demand of 338 project proposals worth over EUR 800 million led the office to raise the allocation for those two calls from EUR 180 million to roughly EUR 230 million. Supported projects run through 2027.

The National Reconstruction Fund Corporation (NRFC), Australia's AUD 15 billion sovereign industrial-financing vehicle, took a AUD 27 million equity stake in PolyActiva, a Melbourne biotech developing a biodegradable ocular implant (Prezia/PA5108) that delivers glaucoma medication over 6-12 months as an alternative to daily eye drops. The investment, announced 30 May 2025, forms the majority of PolyActiva's AUD 40 million Series C round, with the remaining AUD 13 million from existing investor Brandon Capital. Funds will consolidate the company's R&D, analytics and manufacturing into a single Melbourne facility, grow its ~25-person workforce, and fund completion of a Phase 2b clinical trial, with commercialisation targeted for 2029.

The UK Department for Science, Innovation and Technology signed a grant agreement with BioNTech UK Ltd. providing up to GBP 129 million in government support over 10 years, underpinning BioNTech's planned GBP 1 billion (USD 1.3 billion) investment in UK research and development over the same period. The funding backs two new R&D hubs: a life-sciences research centre in Cambridge (genomics, oncology, structural biology, regenerative medicine) and an AI hub co-located with BioNTech's planned UK headquarters in London, run by its InstaDeep subsidiary. The government frames the deal as one of the largest single-company investments in UK life-sciences history and part of the Oxford-Cambridge Growth Corridor and Plan for Change industrial strategy.

President Trump signed Executive Order 14273, "Delivering Most- Favored-Nation Prescription Drug Pricing to American Patients", on 12 May 2025. The EO directs HHS, USTR, and Commerce to pursue mechanisms (negotiation targets, importation pathways, and trade-policy levers) to bring the prices Americans pay for innovative prescription drugs into alignment with the *lowest* prices paid by other comparably-developed nations — the "most-favored-nation" (MFN) benchmark. Unlike the Biden-era Inflation Reduction Act drug-price-negotiation provisions (which apply to a handful of Medicare Part D drugs), the EO applies pressure across the broader pharmaceutical pricing surface. As of April 2026, 17 major pharmaceutical manufacturers (incl. Eli Lilly, Pfizer, Bristol-Myers Squibb, AbbVie, Merck, AstraZeneca, Regeneron) have signed bilateral agreements bringing US drug prices toward the international- benchmark level for selected medications.

On 30 April 2025 the General Office of the Guangdong Provincial People's Government issued Yue Fu Ban [2025] No. 11, "Several Measures of Guangdong Province to Further Stimulate Market Entity Vitality and Accelerate the Construction of a Modern Industrial System," effective immediately through 31 December 2027. The package subsidizes bank-loan interest for manufacturing and high-tech enterprises at up to 35% of the loan rate, capped at RMB 2 billion in total annual subsidy volume and RMB 20 million per enterprise per year, alongside an expansion of government-backed financing-guarantee coverage to over RMB 10 billion annually. It also funds foreign-invested R&D centers (up to RMB 1 million, or RMB 5 million for multinational global R&D centers) and offers headquarters-relocation bonuses of up to RMB 8 million, with priority given to semiconductors, AI, robotics, biotechnology, quantum technology, commercial aerospace, and new-energy vehicles.

On 27 February 2025, the Parliament of the Republic of Moldova adopted Law No. 33/2025 amending Law No. 174/2021 on the mechanism for examining investments of importance for state security. The law entered into force on 20 April 2025 after publication in Monitorul Oficial Nr. 144-147 of 20 March 2025 (promulgated by Presidential Decree No. 118-X of 17 March 2025). Key operative changes expand the protected-sector perimeter to explicitly enumerate 17 categories covering data processing and storage, AI, robotics, cybersecurity, semiconductors, quantum, nanotechnology and biotechnology alongside the pre-existing energy, transport, communications, defence and aerospace pillars; add new grounds for refusal (money-laundering suspicion, corruption convictions, foreign-government control, cybersecurity risk, access to personal data of citizens); introduce enhanced Council powers including retroactive review of previously approved investments and fines of up to 5% of annual turnover (capped at MDL 5 million); and carve out intra-group transactions, asset sales below EUR 1 million, and state-owned-enterprise dealings. The Screening Council became operational in July 2025.

On 19 February 2025 Vietnam's 15th National Assembly adopted Resolution 193/2025/QH15 at its 9th Extraordinary Session, establishing 12 pilot policy categories that operationalise the Politburo's December 2024 Resolution 57-NQ/TW without requiring full-statute enactment. The resolution's most structurally novel element is an R&D risk-acceptance framework — the first in Southeast Asia — that exempts organisations and individuals from civil liability for damage caused to the State in the course of state-funded R&D activities conducted in compliance with prescribed procedures, directly addressing Vietnam's long-standing chilling effect on state-sector innovation. Additional pilots cover expedited procurement for sci-tech and digital-transformation projects, special tax and immigration incentives for high-skilled AI/semiconductor/ quantum R&D personnel, accelerated permitting pathways for priority-sector R&D investments, a start-up grant and venture framework, and an open-data regime for state-held datasets. Implementing Decree 88/2025/ND-CP was issued shortly after adoption; the resolution provides the legal-framework architecture that complements the financial-instrument side (Decree 182/2024/ND-CP, VND 30 trillion Investment Support Fund) and the sectoral-law cluster enacted in late 2025.

The Government of Karnataka, Department of Industries and Commerce, notified the Karnataka Industrial Policy 2025-30 in the Karnataka Gazette on 11 February 2025, with the policy taking legal effect from 8 February 2025 and valid for five years (or until superseded). It supersedes the prior Karnataka Industrial Policy 2020-25. The umbrella state-level framework targets ₹7.5 lakh crore (~USD 90 bn) in fresh investment and 20 lakh (2 million) new jobs by 2030, positioning Karnataka as a top-Asia destination for high-technology manufacturing — semiconductors, EVs, aerospace, defence, biotech, medical devices, textiles and renewable energy. It introduces zone-based incentive categorisation (Zone 1/2/3 district classification), capital subsidies, stamp-duty exemption, electricity-tax exemption, interest subsidy, ESDM-specific top-up incentives that layer onto central PLI/ECMS/Semicon Mission schemes, and a Cabinet Sub-Committee under the Chief Minister to sanction bespoke "Anchor Investor" and "Mega/Ultra-Mega" customised incentive packages.

China's Unreliable Entity List (UEL) Working Mechanism, led by MOFCOM, issued Announcement [2025] No. 2 on 4 February 2025, designating PVH Group (parent of Calvin Klein and Tommy Hilfiger) and Illumina Inc. (US genomics / gene-sequencing equipment maker) as Unreliable Entities under the 2020 UEL Provisions, citing violations of normal market-transaction principles and discriminatory measures against Chinese enterprises. PVH was cited for its Xinjiang-cotton sourcing boycott (MOFCOM probe launched September 2024); Illumina was cited for restricting Chinese customers' access to gene-sequencing equipment. The announcement was issued on the same day as China's IEEPA-retaliation tariff package (10–15 % on US coal, LNG, crude oil, agricultural goods, and autos), making it the first UEL listing of a Western consumer-brand / retail company and the first combining a UEL designation with a subsequent sector-specific export prohibition (gene sequencers, imposed 28 February 2025).

On 16 January 2025 the US Bureau of Industry and Security published an interim final rule (90 FR 4598; FR Doc 2025-00723) creating new ECCN 3A069 for high-parameter flow cytometers and liquid chromatography mass spectrometers specially designed for top-down proteomics, plus new ECCN 3E069 for related development and production technology. Items previously controlled under the catch-all ECCN 3A999 are migrated into the dedicated 3A069 classification, which carries National Security (NS), Regional Stability (RS), and Anti-Terrorism (AT) controls. Licensing policy is presumption of denial for destinations in Country Group D:1 and D:5, Macau, and Country Group E (i.e. China, Russia, Iran, North Korea, Cuba, Syria, Venezuela). The rule also adds new EEI/AES filing requirements (§ 758.1(b)(11)) for all 3A069 exports to Country Group D destinations. Public comments were accepted until 17 March 2025.

The National Assembly of the Republic of Korea passed on 27 December 2024 a comprehensive amendment to the Act on Prevention of Divulgence and Protection of Industrial Technology (산업기술의 유출방지 및 보호에 관한 법률, the "ITA" or "Industrial Technology Protection Act"), effective 22 July 2025. The amendment grants MOTIE direct statutory authority to block or reverse unapproved exports and overseas transactions involving National Core Technologies (NCTs) — including M&As, technology-transfer transactions, and foreign-investment events — without requiring interdepartmental coordination that was necessary under prior enforcement-decree authority. Entities already verified as NCT holders must complete formal registration with MOTIE within six months of the effective date (by approximately 22 January 2026). Punitive damages for wilful NCT infringement are raised from 3x to 5x actual damages, and criminal fines for overseas NCT leakage are raised from KRW 1.5 billion to KRW 6.5 billion.

On 23 December 2024 the US Bureau of Industry and Security published a final rule (89 FR 104408; FR Doc 2024-30425; RIN 0694-AJ83) amending the Export Administration Regulations to implement decisions adopted at the Australia Group's 2023 and 2024 plenary meetings. The rule adds new ECCN 2B352.k controlling instruments for the automated chemical synthesis of peptides that are partly or entirely automated and capable of generating peptides at a system-synthesis scale of 1 mmol or greater, finalising the April 2023 BIS proposed rule. It also adds dipropylamine to ECCN 1C350.d.11, neosaxitoxin to ECCN 1C351.d.12, revises the 1C351.d.3 entry from "botulinum toxins" to "botulinum neurotoxins" to capture all serotypes, adds a "minimum detection limit" definition for toxic-gas monitors in 2B351.a, and explicitly captures single-use centrifugal separators in 2B352.c. License requirements (CB, AT, CW where applicable) apply for export to non-Australia-Group destinations; the rule is effective on publication.

Vietnam's 15th National Assembly passed Law 44/2024/QH15 on 21 November 2024, comprehensively amending the 2016 Law on Pharmacy. The law liberalises foreign-invested enterprise (FIE) rights — permitting FIEs to wholesale self-imported drugs and APIs and to operate pharmacy chains for the first time — while introducing a special investment-incentive tier for pharma projects capitalised at ≥ VND 3,000 billion (≈ USD 120m) with ≥ VND 1,000 billion disbursed within three years. Online retail of non-prescription drugs is formally legalised as a distinct regulated business activity. Most provisions take effect 1 July 2025; selected marketing-authorisation renewal procedures took effect 1 January 2025. Implementing Decree 163/2025/ND-CP, effective 1 July 2025, provides detailed operational guidance.

Premier Li Qiang signed State Council Decree No. 792 on 19 October 2024 promulgating the Regulations of the People's Republic of China on Export Controls for Dual-Use Items, with effect from 1 December 2024. The regulation, organised in six chapters and 50 articles, consolidates the previously fragmented nuclear / biological / chemical / missile dual-use control regimes into a single State Council framework operationalising the 2020 Export Control Law. It introduces a control-list / temporary-control / watchlist architecture, a statutory end-user / end-use commitment regime, transit / transhipment / re-export controls, extraterritorial reach over PRC items downstream, and explicit linkage to the Anti-Foreign Sanctions Law. On 15 November 2024 MOFCOM, MIIT, GAC and SCA jointly issued Announcement No. 51 of 2024 publishing the consolidated Dual-Use Items Export Control List with a unified five-character ECCN-style coding system, also effective 1 December 2024.

The US Bureau of Industry and Security issued a final rule on 5 September 2024 (effective 6 September 2024, published in the Federal Register on the same day as 89 FR 73285) establishing multilateral export controls on four categories of emerging technologies: (1) quantum computing items including quantum computers, related cryogenic / control / measurement systems, and certain quantum software; (2) gate-all-around field-effect transistor (GAAFET) production technology — the next-node semiconductor architecture beyond FinFET; (3) advanced additive-manufacturing equipment for metals + alloys; (4) certain biotech-related items added in a parallel rule on 12 September 2024. The rule operates without country exceptions for some categories, with multilateral coordination via Wassenaar + Australia Group + Nuclear Suppliers Group frameworks.

On 26 July 2024 President Erdoğan unveiled the HIT-30 (High-Technology Investment Programme), Türkiye's largest single industrial-finance instrument since the 2018 Investment Office reform, allocating USD 30 billion in state support over 2024-2030 to attract investment across 37 priority programmes spanning electric vehicles, batteries, semiconductors, solar/wind energy, green hydrogen, hyperscale data centres, biotechnological medicine, industrial robotics, and R&D. The Ministry of Industry and Technology is the operating agency, with the Industrialization Executive Committee chaired by the President providing high-level oversight; an Industrialisation Executive Committee under the President directs sectoral allocations. Headline tools include USD 4.5bn earmarked for an 80 GWh battery-manufacturing capacity (with USD 6,000/MWh grants through 2030), USD 2.5bn for 15 GW of domestic solar-cell capacity, USD 1.7bn for wind-component manufacturing, USD 1bn for top-1000 corporate R&D centre support (covering 50% of personnel costs for 5 years), corporate tax reductions, social-security-contribution coverage, energy-cost subsidies covering 50% of bills for energy-intensive projects, customs/VAT exemptions, and free or discounted land allocation in organised industrial zones. Programme targets at least USD 20bn in private-sector co-investment.

Bill C-34, the National Security Review of Investments Modernization Act, received Royal Assent on 22 March 2024 — the first major overhaul of the Investment Canada Act (ICA) national-security review regime since 2009. Non-regulatory provisions came into force on 3 September 2024 by Order Fixing P.C. 2024-826 (SI/TR-32, Canada Gazette Part II). The Act creates a pre-implementation filing obligation for investments in prescribed "sensitive sectors" (final list set by regulation), gives the Minister of Innovation new authority to extend reviews and impose interim conditions or accept undertakings without a Governor-in-Council order, raises monetary penalties, and establishes information-sharing authorities with allied screening regimes. ISED's updated NSR Guidelines (5 March 2025) elevate "economic security" to a standalone factor and align the prescribed-sector list with the Sensitive Technology List (STL).

On 26 February 2024, President Ferdinand Marcos Jr. signed Republic Act No. 11981 ("Tatak Pinoy Act"), the first standalone national industrial policy law in Philippine history. It mandates the formulation, funding, implementation, monitoring, and evaluation of a multi-year Tatak Pinoy Strategy organised around five pillars (human resources, infrastructure, technology and innovation, investments, sound financial management) and establishes the Tatak Pinoy Council, chaired by the DTI Secretary with NEDA and Finance secretaries as vice-chairs. On 24 October 2025, Marcos issued Memorandum Circular No. 104 approving the implementing Tatak Pinoy Strategy and directing all national agencies, GOCCs, and LGUs to prioritise local products in procurement, with local suppliers eligible for award if their bids are within 25% of the lowest foreign offer.