AstraZeneca has outlined plans to invest $15 billion in China through 2030, making a broad commitment to the country to enhance its capabilities in areas including cell therapies and radioconjugates.

With U.K. Prime Minister Keir Starmer meeting Chinese President Xi Jinping on Thursday to improve relations between the countries, Anglo-Swedish drugmaker AstraZeneca has done its part by committing to investing in China. The far-reaching investment plan spans drug discovery, clinical development and manufacturing. 

AstraZeneca already has a large presence in China, which is home to two of its six global R&D centers. The Chinese centers have led 20 global clinical trials to date. Building on that base, AstraZeneca plans to use some of the $15 billion to strengthen its R&D footprint in China.

The company framed the investment as part of a push to discover and develop new treatments in China. AstraZeneca singled out novel modalities—specifically cell therapies and radioconjugates—as an area of focus because of China’s scientific capabilities in the area. 

China has shown its discovery capabilities by becoming a key source of new drug candidates for global biopharma companies. AstraZeneca has been among the most active buyers, striking deals with Harbour BioMed, CSPC Pharmaceutical, Jacobio and AbelZeta, acquiring Gracell Biotechnologies and investing in Syneron Bio.

The $15 billion investment is the latest and largest of a series of announcements about AstraZeneca’s commitment to China. The company vowed to double the head count at its Shanghai R&D site and create a $1 billion investment fund in 2019. Last year, AstraZeneca set out plans to open a global R&D center in Beijing as part of a $2.5 billion investment in the city.

AstraZeneca CEO Pascal Soriot oversaw the commitments, navigating the company through challenges including the detention of the company’s former China head and a probe into potential illegal imports along the way. Soriot is one of 54 people in the delegation that traveled to China with Starmer. The pharma industry is also represented in the delegation by GSK Chairman Jonathan Symonds.

Soriot discussed the geographic allocation of investment on an earnings call in November, telling analysts that “if you look at innovation, it’s happening in the U.S., very rapidly now it’s happening in China, and there’s not so much in Europe.” The AstraZeneca CEO cited China as evidence of how the life sciences sector can drive economic growth.