China's bioindustry aiming for revenues of 500 billion yuan: official
DATELINE: BEIJING
China's bioindustry is galloping towards 500 billion yuan (64.9 billion U.S. dollars) of sales in 2010, said an official with the National Development and Reform Commission (NDRC) on Monday.
The bio-industry, covering bio-pharmacy and bio-agriculture in particular, has the potential to be a leading high-tech industry in China.
The NDRC, cooperating with the Ministry of Finance and the Ministry of Science and Technology, has worked out the eleventh five- year plan for the country's booming bioindustry, according to the official.
He said that the pace of change in the world's bioindustry will be blistering over the coming decade and China should seize its opportunities to expand its bio-sector through innovation and restructuring.
More than ten provinces on the mainland have already come up with plans to boost local bioindustry.
The bioindustry chalked up 200 billion yuan (26 billion U.S. dollars) of sales in 2005. The nation's seven designated bioindustrial production bases have grown rapidly, contributing strongly to the country's economic growth. Enditem (?)