Over $240 Million Assets Belonging to Chinese Drugmakers Exposed After Silicon Valley Bank Failure

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All eyes are on America’s banking system after the collapse of Silicon Valley Bank (SVB), the biggest bank failure in the United States since 2008 with over $200 billion in assets on the line. But the companies hit aren’t just in America. Several Chinese startups are also embroiled in the fall. One sector alone has hundreds of millions at stake. A look at SVB’s website notes its history of operating in China, going back decades. What does all this mean, not just for America, but also for Chinese firms?
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