China’s biotech long march

The Chinese biotechnology industry offers immense potential for global companies due to its vast market place, low-cost pool of professional talents and extensive research and development infrastructure. In 2003, the Chinese biotech market was valued at USD 3 billion and is projected to reach USD 9 billion by 2010, growing at a CAGR of about 17%. The industry is one of the key areas for China’s high-tech competitiveness and is expected to account for around 7-8% of GDP by 2020.