China's $300 billion goal

StephenW

Nature Biotechnology | News

China's $300 billion goal

• Heiko Yang
  

Nature Biotechnology 29,779(2011)doi:10.1038/nbt0911-779b        Published online08 September 2011                                                                                  China's central government will spend 10 billion yuan ($1.6 billion) and raise an additional 30 billion yuan ($4.8 billion) from provincial governments to gain a leading position in global biopharma. This strategic investment is part of its Five-Year Plan, aimed at shedding the nation's reputation as a cheap producer of low-quality products. Of the seven industries selected for investment, biotech is one of them. “The government is pouring money to really support innovative work,” says Dan Zhang, CEO of Fountain Medical Development in Beijing, who is reviewing grant proposals for the Ministry of Science and Technology (MOST). “Almost all of the grant money will go to preclinical and clinical studies of truly innovative projects.” MOST vice-chairman Liu Yanhua announced at a bioeconomy meeting in Tianjin in June that the government hopes biotech revenue will exceed 2 trillion yuan ($311 billion) by 2020. Many Western biotechs view China's commitment to innovation as a boon for both sides, as analysts predict that partnerships between China and the West will flourish over the next decade. Whether China's expectations for a meteoric rise will threaten the West's biotech leadership is uncertain. Ingrid Yin, senior analyst for Oppenheimer in New York, believes China must first expand its research infrastructure and attract a talent base before it can develop into a world power in biotech. “It will be a gradual process,” she says.

hbv30year

glad to see you in english forum. please ignore old wang and his supporters. I guess you love china a lot and hope to help the people. Right now it is a tough time for the forum, look at it, full of personal attacks, you still want to help them? Enjoy your life in Australia. Hope you can forgive my selfish.

hbv30year

by the way, don't forget china has 500 billion goal on public security. But I don't want to talk too much on politics now, i make a promise to my friends and myself.

StephenW

回复 hbv30year 的帖子

How are you, my friend? Thanks for the advice.
I was going to make a long-winded reply but I change my mind, after all, it is quite sunny to-day. Okay, I will make it short.
As long as Old Wong continues to make statements about HBV that I disagree with, he can expect challenge from me. It is an Australia cultural trait - never give the sucker a break. As for his fans, they can keep feeding him with enough rope to hang himself.

I notice too that things are a bit quiet with the forum. I take it to be a good sign that less people are visiting the forum, as they feel less pressured by their health concerns and move on. I hope this is the case.

Look like we are heading into another financial storm! This one, I felt is different to the previous one when we bailed out the banks, now we have to bail out countries like Greece. As usual, the masters of the universe, the bankers and the rich and mighty of this world, are taking from the ordinary people to support their life style. The crazy Americans are still fighting their phoney war on terrorism, on behalf of Israel and the lunatic fundamentalist "religious" nuts. Their enemies are the gays, scientists, and anyone who disagrees with them. BTW, did you notice the Canadian government take it upon itself to complain the riots against the Israeli embassy in Egypt?

How is that for a rant?