China’s Bio-industry to Exceed RMB8 Trillion by 2020

With a compound growth rate of over 15%, China’s bio-industry has developed rapidly during and after the 12th Five-Year Plan period (2011-2015). Its scale exceeded RMB3.5 trillion in 2015 and may reach RMB8-10 trillion in 2020, in accordance with China’s Life Science & Biotechnology Development Report 2017 recently issued by the Ministry of Science and Technology and China National Center for Biotechnology Development.
China is a world leader in gene detection capability. While expanding the range of exported pharmaceuticals from active ingredients to formulations with higher technology content, China has made breakthroughs in core technologies of high-end medical equipment, greatly lowering the prices of related products and services. Further, output of China’s biological fermentation industry ranks first in the world, and China is replacing fossil energy by biological energy, exceeding 33 million tons of standard coal each year.
Meanwhile, a group of high-level distinctive bio-industry clusters have started to take shape in Beijing-Tianjin-Hebei Region, Yangtze River Delta, Pearl River Delta, etc.
Export structures of China’s biotech products have been optimized. With biotechnology outsourcing services developing rapidly, the domestic bio-industry is actively advancing cooperation with foreign firms.