# U.S. signals openness to Chinese drug deals

> American regulators may allow pharmaceutical licensing with China while restricting AI and semiconductors.
- Title: U.S. signals openness to Chinese drug deals · CNBC | Shortify
- Summary: American regulators may allow pharmaceutical licensing with China while restricting AI and semiconductors. The U.S. is considering a separate, more…
- Keywords: chinese biopharma stocks, drug licensing deals, u.s. treasury department, innovent biologics, akeso, china-u.s. trade, pharmaceutical regulation, hong kong stock market, geopolitical trade restrictions, drug development, business, finance
- Source: CNBC — https://cnbc.com/2026/09/21/chinese-biopharma-stocks-jump-as-us-plans-to-continue-drug-licensing-deals-.html
- Author: Jenny Lee
- Published: 2026-09-21T04:20:33+00:00
- Read time: 1 min
- Topics: chinese biopharma stocks, drug licensing deals, u.s. treasury department, innovent biologics, akeso, china-u.s. trade, pharmaceutical regulation, hong kong stock market, geopolitical trade restrictions, drug development, business, finance
## Chinese biotech stocks surge on U.S. signal
Innovent Biologics jumped 6% and Akeso surged 8% in Hong Kong after reports the U.S. Treasury is drafting rules to allow American pharma companies to license drugs from Chinese firms.
## Treasury drafts new China pharma rules
The U.S. Treasury is creating rules that would likely permit investments in Chinese drug development, excluding pathogens or weaponizable biotech. The rules remain subject to change.
## Biopharma gets different treatment than AI
The U.S. is taking a softer approach to Chinese biopharma than to artificial intelligence and semiconductors, where it has tightened restrictions significantly.
## Chinese firms dominate U.S. drug licensing
Almost half of U.S. deals to license drugs from overseas in 2025 came from Chinese companies. China itself completed 81 licensing deals worth 110 billion dollars in the first half of 2026.
## Pfizer bets big on Chinese oncology
Pfizer announced a partnership worth up to 10.5 billion dollars with Innovent in May to develop 12 oncology programs, showing major pharma's confidence in Chinese drug development.
## China targets pharma globalization
China has made globalization a key goal for pharmaceutical companies under its 15th five-year plan. Investors appear largely immune to geopolitical concerns as Chinese firms offer strong value in drug development.
## Key takeaway

The U.S. is considering a separate, more permissive regulatory track for biopharma deals with China than it applies to other sectors.