Economic highlights for this week
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3. Government bio industry plans to target doubling capacity in five years
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China has just seen double-digit growth in its biotechnology industry and has gone from being one of the slowest to one of the fastest nations in the adoption of new biotechnologies. |
Bio industry plans to be released in June will set targets to expand annual production to 4-5 trillion yuan by 2015 and 10 trillion yuan in 2020. The plan will set biomedicine and personalized medical care as particular focal points of industry development. In 2010, China's bio industry reported annual production of 1.8 trillion yuan, with biomedical production totaling 1.1 trillion yuan.
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