BIZCHINA> Review & Analysis
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BIZCHINA> Review & Analysis
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Biotech can lead to new realms
By Liu Yandong (China Daily)
Updated: 2009-07-22 07:58 The Chinese government attaches great importance to the development of biotechnology and bio-industry. It has identified these two as key areas in China's Outline of National Medium- and Long-Term Program for Scientific and Technological Development. Recently, the State Council promulgated the Policies for Expediting the Development of Bio-Industry. A number of major special projects were launched, including the projects on "major new drugs", on "the prevention and control of HIV/AIDS, virus hepatitis and other major infectious diseases" and on "new varieties of genetically modified organisms". All these projects received substantial government inputs. To make drugs available and affordable to the general public, the government is committed to research and development of new drugs. To better prevent and control major infectious diseases, the government is committed to the research and application of prevention and control technologies. To ensure food, energy and ecological security, the government is committed to research on transgenic technology. Thanks to sustained commitment over the years, China has achieved some success in developing its biotechnology and bio-industry. The fledgling biotech industry is growing fast. China is now poised at a new stage on its way to build an all-round moderately prosperous society and speed up modernization. As a developing country with a large population and a weak economic foundation, its modernization drive must rely on science and technology to underpin national development and set directions for the future. To cope with the international financial crisis, the Chinese government has introduced a package plan aimed at expanding domestic demand and promoting stable and relatively fast economic growth. To stimulate innovation in science and technology is a major part of the plan. Despite budget constraints this year, the central government has increased allocation for S & T by 25 percent. Biotech is a strategic priority in China's scientific and technological advancement. Our goal is to promote bio-industry through intensified R&D in life sciences and biotechnology, and to speed up the industrialization of biotechnology and development of bio-economy. We should catch up with the world leaders in biotech R&D by 2020, and build bio-industry as a pillar of the national economy.
First, China will promote indigenous innovation in bio S & T. Efforts would be made to build up related infrastructure, and establish a world-class bioscience research bases. The aim would be to better integrate and share research resources, forge close partnerships between and among enterprises, universities and research institutes, and promote quicker application of new findings in industry. Second, China attaches strategic importance to training and induction of competent biotech professionals. Efforts will be made to further develop biological disciplines at universities, encourage enterprises and universities to set up training bases for biotech professionals, improve equity incentive mechanisms such as equity-based technology transfer, attract overseas Chinese professionals to return and start their own businesses in China, and build up teams of high-end innovative professionals. Third, China will expand financing channels for bio-industries. Efforts will be made to develop mechanisms for the interplay between S&T and finance, facilitate the establishment of venture capital funds, intensify credit support through interest discount, innovative loan portfolios and other means, provide strong backing to biotech companies that seek listing on domestic and overseas stock markets, increase fiscal input for biotech R&D, and guide social capital to bio-industries. Fourth, China will foster the growth of a number of biotech enterprises. Efforts would be made to help enterprises act as the main player in biotech innovation, elevate their innovation capability, enable flagship enterprises to thrive, speed up the growth of small- and medium-sized enterprises, further develop biotech industrial bases, encourage domestic companies to "go global" and "invite in" foreign companies. Fifth, China will create a market environment for the development of a bio-economy. Efforts would be made to better protect biotech-related intellectual property and biogenetic resources, improve the market access system of biotech products, strengthen bio-security monitoring, improve government services, boost international cooperation, and foster a favorable social climate for bio-economy. We believe that with tireless efforts, the development of biotechnology and bioeconomy in China will not only benefit the 1.3 billion Chinese people, but also contribute to world harmony and human progress. The development of a bioeconomy needs concerted effort by all countries. China has rich bio-resources, a relatively sound research foundation, huge market demand and a favorable policy environment for the development of biotech and bioeconomy. China stands ready to work with other countries to advance biotechnology, promote the biotech industry and stimulate the development of bioeconomy. The author is China's State Councilor. (For more biz stories, please visit Industries)
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