Chinese Government Seeks to Boost Biotechnology

BYLINE: Ben Shankland

According to Interfax, the Chinese government has pledged its commitment to implementing new measures to boost China's fledgling biotechnology industry. Options under consideration include the establishment of a national biotechnology association, which would bring biotech companies, research institutes, medical institutions and the government under one "roof". At the same time, greater investment is also required.

Significance: The introduction of a dedicated national biotech association would help provide management focus and regulate China's biotech industry. Currently, 300 research institutes and 500 companies are reported to be focusing on biotechnology in China. However, their lack of innovation means that Chinese biotechs are failing to compete on an international level.