Biotechnology incubator opens doors in Boston

Chinese investors have begun to shift target industries in the US to the high-tech sector and the trend just took a big step in Boston.

The city's first innovation center founded by a Chinese pharmaceutical enterprise - Qilu Boston Innovation Center - had its grand opening on Friday.

After launching, "QBIC will be serving as an incubator for biotech startups, with the aim of helping biotechnology startups implement their ideas, to sooner transform their research results into medicine to meet clinical needs and improving Qilu's domestic product lines," said Larry Cai, head of business development in New England at Qilu.