Beijing (CNN) The Chinese government will add fentanyl-related substances to their list of controlled drugs from May 1, in a move aimed at curtailing the manufacturing and distribution of one of the world's most powerful opioids.

The new laws are likely to be interpreted as win for US President Donald Trump, who has taken a strong stance against fentanyl and was full of praise for China in December 2018 when President Xi Jinping first agreed to the move.

"This could be a game changer on what is considered to be the worst and most dangerous, addictive and deadly substance of them all," Trump posted on Twitter at the time.

An extremely powerful synthetic drug, fentanyl is 50 to 100 times more potent than morphine and 30 to 50 times more potent than heroin.

According to the US Center for Disease Control and Prevention, fentanyl was used in one in four overdose deaths in the US in 2018, killing just over 18,000 people in one year and overtaking heroin and oxycodone as the country's most deadly drug.

Read More</s>Image copyright Reuters Image caption The illegal sale of fentanyl is fuelling the US opioid crisis

China says it will crack down on all types of the synthetic opioid fentanyl, following a plea from the US.

All fentanyl-related substances will be added to China's list of controlled narcotic drugs from 1 May, officials said.

It follows a pledge Beijing made during US-China trade talks in December.

The powerful painkiller, much of it believed to be made in China, is said to be driving a huge rise in drug addiction in the US.

The number of deaths from painkillers such as fentanyl led to President Donald Trump declaring a national emergency in 2017.

Media playback is unsupported on your device Media caption On America's trail of destruction

China's production of the drug has long been a source of tension between the two countries.

"The US is concerned about all variants [of fentanyl] and it has all been resolved," Liu Yuejin, deputy director of China's narcotics control commission, told a news conference.

Mr Liu said the claim that China was the main source of fentanyl "lacked evidence", and instead blamed a history of abuse of prescription medicine in the US for fuelling demand.

"We believe that the United States itself is the main factor in the abuse of fentanyl there," he said.

"Some people link drug consumption with freedom, individuality, and liberation. If the US really wants to resolve the fentanyl substance problem they have more work to do domestically."

Media playback is unsupported on your device Media caption Vancouver's unusual approach offers opioid users injection sites, antidotes and even heroin on prescription

Fentanyl itself is already on China's list of controlled drugs. Expanding the list to all fentanyl-related substances is aimed at stopping smugglers from changing formulas to circumvent the law.

Fentanyl is estimated to be 50 to 100 times stronger than morphine and is usually only approved in the US for severe pain arising in cases like treatment for cancer.

Image copyright Reuters Image caption Liu Yuejin blamed US culture for fuelling demand for fentanyl

The US says the synthetic drug is being sold on the internet and sent by post from China, fuelling the opioid crisis.

US authorities list all fentanyl-related products in the most dangerous class of drugs.

In 2017, the US announced the first ever indictments against two Chinese individuals for conspiracy "to distribute large quantities" of fentanyl as well as other opioids.

The issue over fentanyl figured during a trade war between China and the US that erupted last year.

China's pledge to control the drug came during a post-G20 summit between the two countries in Buenos Aires in December.</s>China will add fentanyl-related substances to a supplementary list of controlled narcotic drugs and psychotropic substances with non-medical use since May 1.

The decision was announced Monday in a joint statement by the Ministry of Public Security, the National Health Commission and the National Medical Products Administration.

Fentanyl and its analogues that were previously included in the list of controlled narcotic drugs and psychotropic substances, as well as the related substances in the supplementary list, will remain to be controlled according to relevant regulations, the statement said.</s>BEIJING (Reuters) - China will add fentanyl-related substances to a supplementary list of controlled narcotic drugs from May 1, the government said on Monday.

The statement was jointly issued by the Ministry of Public Security, the National Health commission and National Medical Products Administration.

U.S. Trade Representative Lighthizer said in March he would prefer to include China’s commitments to curb fentanyl in any trade agreement.

A senior China diplomat said in December China and the United States had agreed to action in the control of narcotics including fentanyl.</s>Surveys showed global manufacturing, the lifeblood of many of the world’s economies, was flat in March — the first time it has not fallen since April 2018.

“The steady result was achieved in no small part thanks to a better performance from China. China led a regional divide, with northeast Asia generally improving. While in contrast, Central Europe was notably weak, and North American manufacturing, at least based off the PMIs, was also losing some growth momentum, most especially in Canada and Mexico.”

— Alan Ruskin, chief international strategist at Deutsche Bank, wrote in a note to clients.

China’s manufacturing sector returned to growth in March, with its purchasing managers index rising above 50, after 4 months of contraction.

In the U.S., the rate of expansion in manufacturing was the weakest since June 2017. “A futher deterioraton in the manufacturing PMI suggests the factory sector is acting as an increasing drag on the US economy,” said Chris Williamson, Chief Business Economist at IHS Markit, which released the study.

Japan’s Nikkei-Markit manufacturing PMI for March capped the worst quarterly performance in the sector since the second quarter of 2016. Another study, the Bank of Japan’s quarterly survey of major companies, found confidence had its biggest drop in more than 6 years.

Eurozone manufacturing readings were much worse than expected last month, as factory activity contracted at the fastest pace in nearly 6 years. However, the metric remained in positive territory.</s>China said Monday it is adding all fentanyl-related compounds to its list of controlled substances, beginning May 1.

U.S. officials have long campaigned for the move. Fentanyl, and compounds that mimic its effects, are blamed for tens of thousands of opioid overdose deaths in the U.S. each year.

"The U.S. is concerned about all variants (of fentanyl) and it's all been resolved," Liu Yuejin, the deputy director of China's National Drug Commission said Monday.

U.S. President Donald Trump said last year, if China placed controls on fentanyl, the move would be a "game changer."</s>China has announced that it would begin regulating all fentanyl-related drugs as a class of controlled substances, in a change officials in the United States had long advocated as a way to stem the flow of lethal opioids from the Asian nation.

The sweeping change in the way China regulates drugs that mimic fentanyl takes effect on May 1.

“We firmly believe that listing the entire class of fentanyl substances will completely block the loopholes that enable lawbreakers to evade punishment by simply modifying one or several atoms, functional groups or other groups,” Liu Yuejin, vice commissioner of China’s National Narcotics Control Commission, said at a press conference on Monday.

“It will effectively prevent the massive abuse of fentanyl substances and illegal drug trafficking and smuggling activities, and contribute to global drug control with China’s wisdom and power.”

China already controls 25 variants of fentanyl, plus two precursors used to make the drug.

Data from the US Drug Enforcement Administration have shown that when China bans a variant of fentanyl, seizures of that analogue in the US fall.

US officials have repeatedly pointed to China as the main source of synthetic opioids shipped into the country directly by mail or transported via Mexico – a claim repeatedly denied by Beijing.

“China’s control over fentanyl drugs is very strict,” Liu told reporters. “It cannot be the main source for the United States. The US accusation lacks evidence and is contrary to the facts.”

“We believe that the United States itself is the main factor in the abuse of fentanyl there,” Liu said, adding that American culture was partly to blame.

Fentanyl is a narcotic 50 times stronger than heroin and has caused record overdose deaths in the US.

A new study published last month by the Centres for Disease Control and Prevention (CDC) revealed a rise in drug overdose deaths involving fentanyl from 2011 to 2016 across the US.

The issue has figured in trade talks between the US and China, and Beijing promised to list the drug when presidents Donald Trump and Xi Jinping agreed to a tariffs truce in December.

“The US is concerned about all variants (of fentanyl), and it’s all been resolved,” said Liu on Monday.

US officials listening in the audience declined to comment.

In December, Trump said the move could be a “game changer”, noting that Chinese courts can sentence drug traffickers to death.

“If China cracks down on this ‘horror drug,’ using the Death Penalty for distributors and pushers, the results will be incredible!” Trump tweeted at the time.

The move comes as China’s top trade negotiator, Vice Premier Liu He, prepares to return to Washington this week for more talks following discussions in Beijing last week.</s>Beijing -- China said Monday it would soon begin regulating all fentanyl-related drugs as a class of controlled substances. The change has long been pushed for by U.S. officials, including President Trump, as a way to stem the flow of lethal opioids from China.

The sweeping change in the way China regulates drugs that mimic fentanyl takes effect May 1 and could help end the game of regulatory whack-a-mole with chemists who can manufacture novel opioids faster than they can be banned. It could also facilitate prosecutions of opioid merchants in China, who until now have skirted the law by manufacturing and exporting fentanyl variants that were technically legal in China.

"We firmly believe that listing the entire class of fentanyl substances will completely block the loopholes that enable law breakers to evade punishment by simply modifying one or several atoms, functional groups or other groups," said Liu Yuejin, vice-commissioner of China's National Narcotics Control Commission. "It will effectively prevent the massive abuse of fentanyl substances and illegal drug trafficking and smuggling activities, and contribute to global drug control with China's wisdom and power."
• One man's fight not to be another fentanyl victim

Monday's announcement from China's Ministry of Public Security, National Health Commission and National Medical Products Administration makes good on a pledge Chinese President Xi Jinping made to Mr. Trump during the G-20 summit in Argentina late last year.

At the time, Mr. Trump said China's new regulations could be "a game changer" for the United States, where tens of thousands of people die annually from opioid overdoses.

China already controls 25 variants of fentanyl, plus two precursors used to make the drug. Data from the U.S. Drug Enforcement Administration have shown that when China bans a variant of fentanyl, seizures of that analog in the U.S. fall.

U.S. officials have repeatedly pointed to China as the main source of synthetic opioids shipped into the country directly by mail or transported via Mexico. China on Monday again denied that claim.

"China's control over fentanyl drugs is very strict," Liu told reporters. "It cannot be the main source for the United States. The U.S. accusation lacks evidence and is contrary to the facts."

Fentanyl is a synthetic opioid that is 80 to 100 times stronger than heroin or cocaine, according to the U.S. Drug Enforcement Agency (DEA). It was first developed to relieve pain in cancer patients, but has become a primary culprit in U.S. drug overdose deaths.

Fatal drug overdoses peaked in 2018, and according to preliminary data from the Centers for Disease Control and Prevention, the number of deaths from overdoses involving fentanyl was more than 11 times higher in 2016 than in 2011.</s>PLUS: Forbes’ latest cover story, Blowing Up The Venture Capital Model,

NEW YORK – April 2, 2019 – Forbes today released the 18th Annual Midas List, the definitive ranking of the world's top 100 venture capitalists. There are several new names on this year’s list and some notable missing ones, reflecting the broader change that is occurring. There are several new names on this year’s list and some notable missing ones. Most notably, this year’s list features a record number of women, as well as a record number of international investors, particularly from China.

Forbes’ latest cover story, Blowing Up The Venture Capital Model, provides an inside look of famed Silicon Valley venture firm Andreessen Horowitz. In an exclusive sit-down interview with Marc Andreessen, his first in two years, Andreessen shares information on a new $2 billion growth fund the firm plans to announce later this spring and insight into how their most radical move yet, known as A16Z, has transformed the industry.

As part of the 2019 Midas List package, other features include:
• China Investors of the Midas List (also a record)
• The Sci-Fi Companies Backed by Tech’s Best Investors
• The Top 10 Companies Behind The Midas List
• Newcomers to the Midas List in 2019
• The Midas Brink List: these up and comers could be the Midas of the future

For the full list and features, visit: The Midas List 2019

The defining voice of entrepreneurial capitalism, Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most-influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 120 million people worldwide through its trusted journalism, signature LIVE events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. For more information, visit: https://www.forbes.com/forbes-media/</s>Each year, TrueBridge examines the top 10 companies to generate value for the investors on the annual Forbes Midas List. While this year’s list will look similar – there are only three newcomers to the list – it still reflects macro trends that are unique to 2018.

This year’s list of top 10 performance drivers show that China was even more of a dominant player in venture capital than it was in 2017. Six of this year’s top ten companies originated in China, including Meituan-Dianping and ByteDance’s Toutiao, which moved up significantly following the former’s $4.2 billion IPO and the latter’s multi-billion-dollar fundraising.

The top 10 list also shows that, while the IPO window creaked open last year, it didn’t go further than that. Only two newcomers to the list – Spotify and Pinduoduo – arrived thanks to their debuts on the public markets. The third newcomer – WeWork – joined after raising $5.0 billion from SoftBank. But with Uber and Lyft now on file with the SEC, and Alibaba approaching TrueBridge’s five-year lookback threshold for inclusion on the Midas List, 2019 portends some significant changes to 2020’s list of top drivers.

Here are the top 10 companies to help investors make it onto Midas in 2019:

Perhaps unsurprisingly, Alibaba has maintained its place as the top driver of value for Midas List investors following its $25 billion IPO in 2014.

Alibaba has recently been focused on growing its e-commerce and “New Retail” business, which aims to digitize brick-and-mortar retail operations. For example, on its latest annual “Singles’ Day,” the company partnered with brands to create pop-up stores fixed with augmented reality mirrors and tools to connect shoppers to their accounts on Alibaba-owned e-commerce shops T-mall and Taobao. While the company has a global profile, a lot of its success remains dependent on consumer spending in China. It will remain to be seen how the company will fare in China’s current economic slowdown and the ongoing tensions between U.S. and China trade.

Where It Counted The Most On The 2019 Midas List*:

After just one year on the Top 10 list, Meituan-Dianping jumped quickly in the ranks from #8 to #2 following its IPO in September 2018, which valued the company at $52.8 billion. Its last valuation as a private company was less than half that amount ($18 billion).

Founded in 2015 through the merger of two multi-billion-dollar companies, Meituan-Dianping provides group discounts (similar to Groupon) and functions as a marketplace for services from local vendors, including hotels, restaurants, and entertainment venues. It’s best known for pioneering China’s O2O (“offline to online”) market, in which physical commerce industries are connected with consumers through the internet and mobile devices. The company has grown from one of China’s earliest “group-buying” websites into its largest by gross merchandise volume, with 20 million daily mobile users in over 1,000 cities.

Where It Counted The Most On The 2019 Midas List*:

Like Meituan-Dianping, Toutiao and its parent company, Beijing Bytedance Technology, has rocketed through the top 10 after its initial appearance. In October, ByteDance closed a $3.0 billion funding round at a valuation of $75 billion. Despite the eye-popping valuation, it’s still a private company.

Toutiao is a news-aggregation app that leverages AI technology and unique algorithms to quickly learn what its users like to read and create personalized news feeds based on their preferences. Currently installed on over 240 million monthly unique devices, Toutiao has grown into one of the top news aggregators in China and a budding threat against China’s tech giants Tencent, Baidu, and Alibaba. According to TechCrunch, the company plans to continue investing in its content business, including creating tools to incentivize independent content creators and, in response to recent criticism, better monitor its app for illegal and inappropriate content.

Where It Counted The Most On The 2019 Midas List*:

While slightly down from its #2 ranking last year, Uber remains one of the primary value drivers for Midas List investors.

Uber emerged from 2018 following a series of setbacks and scandals, including allegations of sexual harassment, use of illicit software to evade regulators, and IP theft, as well as management changes, including the appointment of current CEO Dara Khosrowshahi. Now, the company has reportedly filed its confidential S-1, and it’s expected to complete its initial public offering this spring.

While Uber is the clear leader in its market and more diversified than its competitors, expect all eyes to remain on Uber’s rivalry with Lyft, which has been its top competitor since inception and is expected to complete its own public offering shortly before Uber.

Where It Counted The Most On The 2019 Midas List*:

One of the few new entrants to this year’s top 10, Spotify rose quickly following its public listing in April 2018 at a valuation of nearly $30 billion.

Spotify’s decision to undertake a direct listing, the first ever for a modern consumer tech company, was seen as a landmark moment. The success of its listing has prompted speculation that other tech “unicorns” like Slack and Airbnb will be emboldened to follow suit. As one of the world’s largest streaming music providers, with over 150 million total listeners, Spotify made the case that its brand is high-profile enough to forego the traditional investor marketing process before an IPO. It remains to be seen whether direct listings will become a preferred avenue to the public markets for other consumer-focused tech companies with similarly strong brands.

Where It Counted The Most On The 2019 Midas List*:

Although some still refer to it as “China’s Uber,” DiDi Chuxing has become a globally recognized company. At a reported valuation of $56 billion as of its last fundraising round in June 2018, and clocking 40 billion routing requests daily, DiDi is one of the world’s most valuable and high-profile startups.

DiDi reportedly is expanding into several countries in Latin America, following its expansion into Australia, Taiwan, Mexico, and Brazil last year. Like its global rival Uber, DiDi is also aiming to be a leader in self-driving cars, and it has diversified its business through an array of on-demand mobility offerings, including Taxi hailing, social ride-sharing, and car rentals.

Where It Counted The Most On The 2019 Midas List*:

WeWork debuted on this year’s top 10 following SoftBank’s sizable investment in the company in January 2019. While SoftBank had reportedly planned to acquire a majority of the company and decided to scale back its investment, its $6.0 billion investment in the company at a $47 billion post-money valuation was still enough to make WeWork a top driver behind the Midas List. Although Michael Eisenberg was the only VC from this year’s Midas List invested in WeWork, this deal was the primary cause for his inclusion – eclipsing all his other investments.

Shortly after SoftBank’s investment, WeWork – known today as a provider of shared workspace communities and office services – rebranded to The We Company, a decision that demonstrates the company’s growth ambitions. As co-founder and CEO Adam Neumann told FastCompany, WeWork aims to expand beyond commercial real estate and transform spaces in people’s digital and physical worlds through two additional business units: WeLive, a residential unit, and WeGrow, which currently includes an elementary school and a coding academy.

Where It Counted The Most On The 2019 Midas List*:

Pinduoduo, our last debut company on the top 10, has been described as a rising challenger against Alibaba in the e-commerce space. Backed by Alibaba rival Tencent, Pinduoduo offers a fun and interactive mobile platform that merges shopping with social networks, primarily through Tencent’s popular WeChat message app. The platform allows users to participate in group buying, which it calls a “team purchase” model, and offers low-price products ranging from groceries to home appliances.

The company went public in July 2018, raising $1.6 billion and earning a $21 billion valuation. Since then, Pinduoduo has reportedly been working to bring imported, higher-quality products to China’s smaller cities and rural areas at an affordable price, and it’s shown strong traction amongst its user base. As of September last year, the company claimed to have 232 million monthly active users that are growing at over 200% year-over-year.

Where It Counted The Most On The 2019 Midas List*:

Although dropping from #5 to #9 on this year’s list, JD.com, China’s largest e-commerce firm behind Alibaba, has remained a significant value driver on the back of its $26 billion IPO in 2014.

Recently, JD.com has been focused on expanding its business beyond traditional e-commerce and into areas like smart cities. The company recently created a new brand, iCity, dedicated to bringing its work in big data, artificial intelligence, and the Internet of Things to Chinese cities. JD.com is reportedly planning to build a JD-branded smart town, which will include capabilities in smart retail, Internet of Things, logistics lighting, and transporting. In addition to its investments in smart cities, JD.com is looking to grow overseas by launching a store, called Joybuy, on the Google Express online shopping site. This follows Google’s $550 million investment in the company last year.

Where It Counted The Most On The 2019 Midas List*:

Two years into its life as a public company, Snap’s share price has been on a roller coaster following a controversial redesign of its flagship product Snapchat and a series of executive departures. But the company’s $3.4 billion listing on the NYSE in 2017 has continued to create significant value for investors on this year’s Midas List.

Since its appearance on last year’s top 10, Snap has taken steps to enhance its app performance and increase monetization of its users. The company’s most recent quarterly earnings report showed promising signs of a turnaround for Snap, as it beat analyst expectations on daily active user growth and earnings.

Where It Counted The Most On The 2019 Midas List*:

*Listed alphabetically by VC last name. Does not include all investors in the company.
China announces that it will add fentanyl to a list of regulated narcotic drugs on May 1, 2019 in an effort to curtail its manufacturing.