Investing in Biotechnology in the PRC

Scientific and technological development in China has come a long way since the announcement of the High-tech Research and Development Program in March 1986. Known as the "863 Program", it set out plans for the development of seven high-tech industries in China: one of these seven was biotechnology

Both academic and investor interest in the  biotechnology Industy in China has grown tremendously over recent years, as testified by biotechnology discussions at both the 4th Annual Session of the National People's Congress of the PRC in March this year and at the 2001 Fortune Global Forum. The Chinese government is committed to further developing the PRC's biotech industry and is continuing to improve the related legislative framework, putting in place a structure that will encourage both the introduction of advanced technologies and know-how and the injection of capital funds from overseas. Business opportunities in the PRC biotechnology industry for both domestic enterprises and foreign investors are likely to grow dramatically over the next few years.