Measures to Ease Inflation Must be Speedy, Says Japan's Ishiba
Any measures to ease inflation in Japan must be speedy and shouldn't impede the government's ability to fund social services, Japan's Prime Minister Shigeru Ishiba said on Sunday, in a comment reflecting his aversion to sales tax cuts as opposition parties campaign to lower the duty ahead of a key election next month.
'We must secure the necessary funds for medical care, elderly care, and pensions. On top of that, the response to the current inflationary trends needs immediacy. It needs to be speedy,' Ishiba said on Sunday at a conference hosted by non-profit organization Japan Productivity Center. He added that measures to counter inflation must reach those most in need, and touted recent steps that eased rice and gasoline prices as examples.
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Associated Press
14 minutes ago
- Associated Press
Hong Kong's security net extends beyond arrests as small businesses pressured
HONG KONG (AP) — It's been years since mass arrests all but silenced pro-democracy activism in Hong Kong. But a crackdown on dissent in the semiautonomous Chinese city is still expanding, hitting restaurants, bookstores and other small businesses. Shops and eateries owned by people once associated with the largely subdued pro-democracy movement are feeling a tightening grip through increased official inspections, anonymous complaint letters and other regulatory checks. Those critical of the city's political changes say it's a less visible side of a push to silence dissent that began five years ago when Beijing imposed a national security law to crush challenges to its rule, under which opposition politicians were jailed and pro-democracy newspaper Apple Daily was shuttered. China said the law was necessary for the city's stability following anti-government protests in 2019. In 2024, the city passed its own national security law, which has been used to jail people for actions like writing pro-independence messages on the back of bus seats and wearing a T-shirt carrying a protest slogan that authorities deemed could imply the separation of Hong Kong from China, a red line for Beijing. In recent weeks, food authorities sent letters to restaurants warning that their business licenses could be revoked if the government deems them to be endangering national security or public interest. Frequent inspections Leticia Wong, a former pro-democracy district councilor who now runs a bookstore, says her shop is frequently visited by food and hygiene inspectors, the fire department or other authorities over complaints about issues like hosting events without a license. It happens most often around June 4, the anniversary of the 1989 Tiananmen Square massacre. Her records show government authorities took measures against her shop some 92 times between July 2022 and June 2025, including inspecting her shop, conspicuously patrolling outside, or sending letters warning her of violations. She has been studying regulations to protect herself from accidentally breaking them. 'Some areas look trivial — and they really are — but they still have the power to make you face consequences,' she said. In an emailed reply to The Associated Press, the fire department said it conducted checks at Wong's business following multiple complaints this year. Wong's bookstore passed most of them but still faces enforcement action for failing to provide valid certificates for two fire extinguishers and its emergency lighting system, it said. Other small business owners described similar experiences. A bakery that put up pro-democracy decorations during the 2019 protests saw food authorities' inspections jump from quarterly to monthly over the past one to two years, mostly over labeling complaints. Its owner, who asked to remain anonymous fearing government retribution, said the frequent inspections made running the business a struggle. A restaurant owner who received the notice of the newly added terms on possible license revocation over national security violations said he doesn't know what could be considered a violation and fears one wrong move could cost his staff their jobs. He spoke on the condition of anonymity, fearing potential impact on his business partners and employees. Food authorities said inspections follow the law, information and public complaints. They maintained that the new national security conditions for food business licenses were clearly defined and would not affect law-abiding operators. The Hong Kong Chief Executive's office has not immediately commented. Anonymous denunciations Others say they have lost opportunities after anonymous letters were sent to employers or business partners. Wong said an anonymous letter sent to an organization that had planned an event at her shop prompted them to cancel the booking. Separately, she lost a freelance job after a funder demanded that a social enterprise not hire her without a specific reason. Her landlord also received an anonymous letter warning them not to rent the space to her. 'I feel that this society is working very hard — that is, within the system, under the official system, working very hard to reject me, or to make my life difficult,' Wong said. Chan Kim-kam, another former district councilor, says she lost both a part-time job and a role in a play after the people she worked for were pressured. A school where she taught sociology part-time asked her to leave after it received a letter claiming that she made a student uncomfortable. The letter, which was written in the simplified Chinese characters used in mainland China but less prominently in Hong Kong, included links to news reports about her arrest under the homegrown national security law last year, though she was never charged. Meanwhile, the city's Leisure and Cultural Services Department told her drama group to replace her or lose their venue, she said. 'I think it's really such a pity. When the culture of reporting people has become so intense, it destroys the trust between people,' she said. Cultural authorities, declining to discuss specific bookings, said all their venue bookings were managed under established procedures. Rule of law in question Hong Kong leader John Lee has said the security law upholds the rule of law principle and only an extremely small portion of people were targeted. He noted 332 people have been arrested for offenses related to national security, about 66 each year on average, or 0.2% of the police's annual arrest figures. Still, he warned of persisting soft resistance, saying 'the streets are full of petty people.' Local broadcaster i-Cable News said national security guidelines would be issued to government workers. Secretary for Security Chris Tang told the broadcaster that even a cleaner should report words endangering national security, if any are found during their job. But Eric Lai, a research fellow at Georgetown Center for Asian Law, said Hong Kong is using regulatory powers to monitor and regulate dissent without checks and balances. Local courts were unable to check the powers granted to the government under the security laws, he said. It fits a common pattern among undemocratic governments like mainland China, he said. In many cases across the border, law enforcement officers frequently harass and surveil dissenters without formal charges. 'It tells the world that the so-called rule of law in Hong Kong is only a facade of rule by men,' he said. Outside a court on Jun. 12, members of the pro-democracy party League of Social Democrats protested against their convictions over street booth activities with a banner that says 'rule of law in name, silencing voices in reality.' They were fined for collecting money without a permit and displaying posters without approval. The judge said freedom of expression was not absolute and restrictions could be imposed to maintain public order. On Sunday, the party announced it had dissolved, citing immense political pressure and consideration of consequences for its members, months after the city's biggest pro-democracy party announced to move toward disbandment. Its chairperson Chan Po-ying wiped away tears at the news conference. 'In the past, the government said it focused on a small portion of people. Now, it includes various kinds of people in Hong Kong, ordinary residents,' she said.
Yahoo
20 minutes ago
- Yahoo
China lifts a nearly 2-year ban on seafood from Japan over Fukushima wastewater
BEIJING (AP) — China has reopened its market to seafood from Japan after a nearly two-year ban over the discharge of slightly radioactive wastewater from the tsunami-destroyed Fukushima nuclear power plant. A notice from the customs agency said the ban had been lifted Sunday and that imports from most of Japan would be resumed. The ban, imposed in August 2023, was a major blow to Japan's fisheries industry. China was the biggest overseas market for Japanese seafood, accounting for more than one-fifth of its exports. The nuclear plant at Fukushima was heavily damaged by a deadly tsunami that followed a huge offshore earthquake in 2011. Water still must be pumped in to cool the radioactive fuel. The water is then stored in what was an ever-growing complex of tanks on the property. After years of debate, the utility won government permission to discharge the water gradually into the sea after treating it to remove most of the radioactive elements. Japanese officials said the wastewater would be safer than international standards and have negligible environmental impact. China disagreed and imposed a ban, saying the discharge would endanger the fishing industry and coastal communities on its east coast. The ban will remain in place for seafood from 10 of Japan's 47 prefectures, including Fukushima and nearby ones. Japanese seafood exporters will have to reapply for registration in China and all imports will have to include a health certificate, a certificate of compliance for radioactive substance testing and a certificate of origin, the Chinese customs agency said. The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
- Yahoo
Innovent Biologics Showcases "Dual Innovations" at Oncology R&D Day, Pioneering the Future of Cancer Treatment with Next-Generation IO and ADC Platforms
SAN FRANCISCO and SUZHOU, China, June 30, 2025 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology, and other major diseases, held its Oncology R&D Day, unveiling its forward-looking strategy centered on dual innovation in next-generation immuno-oncology (IO) and antibody-drug conjugate (ADC) technologies. This strategic focus aims to redefine the standards of cancer treatment and propel Innovent toward becoming a global, premier biopharmaceutical leader. The event drew over 500 participants, including leading oncology key opinion leaders (KOLs), principal investigators, analysts, and global investors, signaling strong engagement with Innovent's transformative vision for the future of oncology. "Over the past decade, Innovent has been at the forefront of China's biopharmaceutical evolution—pioneering the PD-1 immunotherapy era and building China's leading oncology brand, with over 3 million cancer patients treated with our therapies," said Dr. Michael Yu, Founder, Chairman of the Board and CEO of Innovent. "We are entering a new chapter focused on global innovation, powered by a robust pipeline and dual innovation of next-generation IO and next-generation ADC. Our recent presence at the 2025 ASCO with eight oral presentations highlights the strength and global competitiveness of our R&D. But this is only the beginning. With a clear vision to advance at least five pipeline assets into MRCT Phase 3 by 2030, we are committed to delivering innovative, high-quality, and accessible cancer treatments to patients worldwide." Dual Innovation to Unlock the Future of Oncology: Next-gen IO + Next-gen ADC At the core of Innovent's oncology strategy lies the dual engines of next-generation immunotherapy (IO) and next-generation antibody-drug conjugates (ADC), supported by deep insights in cancer biology and differentiated technology platforms. "We are harnessing deep cancer biology insights, advanced antibody and protein engineering, and differentiated ADC linker-payload technologies to develop broader-spectrum, more potent, and less toxic therapies aimed at transforming the oncology treatment paradigm," said Dr. Zhou Hui, SVP of Innovent Oncology R&D. "Our strategy is designed to target some of the toughest challenges in cancer care, including drug resistance, cold tumors, and improve the efficacy of current IO treatment, while bringing new hope to patients worldwide." Global R&D Roadmap: a Clear, Stepwise Development Strategy Innovent's pipeline is guided by a rational, phased IO+ADC combination strategy designed to address tumor heterogeneity and immune escape, evolving through three stages: Next-gen IO + Chemotherapy: to redefine the IO cornerstone Next-gen IO + mAb-ADC / bispecific ADC: to cover expansive tumor types and treatment lines Next-gen IO + Dual-Payload ADC (dpADC): to unlock full potential of IO+ ADC synergy, and reshape cancer treatment Currently its oncology pipeline features nearly 10 next-generation molecules in global development, with multi-regional trials actively underway in the U.S., EU, and Asia. The company also continues to invest in global R&D infrastructure, supported by R&D hubs in Shanghai and San Francisco and antibody and ADC manufacturing capacity exceeding 140,000L. Innovent is rapidly expanding its global innovation footprint, with a 2030 goal to advance at least five pipeline assets into global MRCT Phase 3 trials. Key potential candidates includes: IBI343: innovative CLDN18.2 ADC with site-specific conjugation and a TOPO1 inhibitor payload, demonstrating significant survival benefits in both GC and PDAC IBI363: PD-1/IL-2α-bias fusion protein as next-gen IO to redefine cancer treatment and expand the boundaries of IO responsiveness IBI3009: DLL3 ADC in collaboration with Roche IBI3003: tri-specific T-cell engager targeting BCMA/GPRC5D/CD3 for multiple myeloma IBI3001: EGFR/B7H3 ADC with two synergetic targets covering multiple potential indications IBI3020: CEACAM5 dual-payload ADC as globally the first to enter clinical phase IBI363: Next-Gen IO Redefining Cancer Immunotherapy IBI363 is a global first-in-class PD-1/IL-2α-bias fusion protein, featuring a differentiated molecular design and a dual immune activation mechanism. Emerging clinical data strongly support its mechanism of action in reinvigorating and expanding tumor-specific T cells (TSTs). At ASCO 2025, IBI363 demonstrated breakthrough potential in three hard-to-treat tumor types, with a long tailing effect in prolonged survival benefits: Immune-resistant NSCLC (squamous & Adeno): boosted response rate and extended PFS reflects strong immune activation; median overall survival (mOS) up to 17.5 months in 1.5 mg dose cohorts, 12-month OS rate exceeding 70% for 3 mg dose cohorts, and benefit observed even in PD-L1 low expressers Later-line CRC (3L+): mOS of 16.1 months in monotherapy and only 17.8% OS events occurred in combination with bevacizumab with 9.4 months follow-up, outperforming historical benchmarks Immune-resistant melanoma (mucosal/acral subtypes): confirmed overall response rate (cORR) 23%, median duration of response (mDoR) 14 months, and median OS 14.7 months, showing unprecedented positive response and a long-lasting immunologic tailing effect With two Breakthrough Therapy Designations from the NMPA CDE, two Fast Track Designations from the FDA, IBI363 is advancing rapidly toward registrational development. The first head-to-head trial vs. pembrolizumab in mucosal and acral melanoma was initiated. Meanwhile, IBI363 is in preparation for registrational trails in IO-treated squamous NSCLC, and third-line MSS colorectal cancer. Additional trails for first-line and other solid tumors also under exploration in ongoing PoC studies. High-Potency, Low-toxicity ADC Platforms Synergizing with IO for Broad Indication Coverage Innovent is rapidly advancing its next-gen ADC pipeline, including: IBI343 (CLDN18.2 ADC): first in PDAC to demonstrate long-term survival benefits (mOS 12.1 months in 2L) IBI3001 (EGFR/B7H3 ADC): dual-targeted ADC with broad potential in solid tumors IBI3020 (CEACAM5 dual payload ADC): designed for high efficacy and low toxicity in treatment-resistant tumors These programs leverage proprietary payloads and linkers, optimized for lower toxicity and high potency, and are poised to synergize with Innovent's IO agents to address broader and deeper indications. Innovent Academy: R&D Engine to Drive Global Innovation Innovent Academy is the company's discovery engine for driving global innovation. The Academy continues to expand its platforms in IO, ADC, T-cell engagers, and cytokines, firmly establishing its leadership in next-gen oncology discovery and translational science to generate 6–8 novel molecules per year. Specifically, for next-gen IO and next-gen ADC dual upgradation, Innovent Academy focuses on: diversified antitumor mechanisms to integrate TME modulation and optimize IO efficacy; dual targeting approaches to overcome tumor heterogeneity and drug resistance. This framework allows Innovent to systematically escalate efficacy and broaden tumor applicability, laying the foundation for first-in-class and best-in-class combination regimens for cancer treatments. Catalyzing China's Role in Global Oncology Innovation Leading oncology KOLs and principal investigators (PIs) delivered keynote speeches, reflecting on a pivotal moment for China's biotech industry. They emphasized that China's innovation, which is driven by rising translational capabilities, expanding global talent pools, and patient-centric trial execution, has entered a "Deepseek" moment, one where Chinese-discovered drugs can lead global standards, not just follow them. "What we're witnessing is a profound shift," said one keynote speaker. "Innovent's next-generation IO programs like IBI363, with a clear global-first design, and ADC platforms targeting previously untreatable populations, show that Chinese biotech is poised to influence—not just participate in—the next global oncology paradigm." The enthusiastic response from investors and KOLs underscores growing confidence in China-originated oncology innovation and reaffirms Innovent's position as it enters a new era of global innovation with a vision to become a global premier biopharmaceutical leader. About Innovent Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 16 products in the market. It has 2 new drug applications (NDA) under regulatory review, 4 assets in Phase III or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, LG Chem and MD Anderson Cancer Center. Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit or follow Innovent on Facebook and LinkedIn. Statement: 1) Innovent does not recommend the use of any unapproved drug (s)/indication (s). 2) Ramucirumab (Cyramza) and Selpercatinib (Retsevmo) and Pirtobrutinib (Jaypirca) were developed by Eli Lilly and Company. Forward-Looking Statements This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly. These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions. Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect. View original content to download multimedia: SOURCE Innovent Biologics Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
