Technological growth and development has been relentless in the past two decades, especially in China. Through financial investments and vested interest from both public and private sectors, the biotechnology industry has drawn the attention of many Chinese scientists and engineers.
The biotechnology industry aims to increase the amount of life-science parks in China. Life-science parks are essentially communities located near universities and state-run facilities to consolidate and share knowledge and progress in life sciences.
Finding new solutions to old problems is also another priority of the biotechnology industry. By discovering new molecules and understanding how to use cellular structures of organisms, the industry can discover ways to fight diseases, tackle the problem world hunger, and grow cells to replace failing human limbs and organs.
With such possibilities in sight, the public and private sectors are cooperating to support such research and development, making China the global leader of biotechnology.
With the establishment of the CNCBD (China National Center for Biotechnology and Development) in November 1983 , along with lenient regulations placed on research and development, the biotechnology industry has attracted a vast amount of innovation and investment.
The Thousand Talents Plan, a scheme to bring back scientists and academics to China, is heavily invested in recruiting into the life sciences and biotechnology. There have already been 7,000 scientists recruited, boosting innovation and knowledge in the industry.
Along with the state enabling the sector, research and development in biotechnology allows for human experimentation in biopharmaceuticals, further advancing the understanding of human biological processes, their capacities, and how to strengthen them.
With exponentially increasing investments going into life sciences and the biotechnology industry, the Chinese government aims to invest 4% of China’s GDP (gross domestic product) by 2020. To put that into context, so far, $100 billion have been invested in the biotechnology industry from the state alone.
China is now drawing the attention of investors globally, and providing a leading and positive example for other nations to support their life science sectors. More significantly, this opens doors of opportunity for Chinese scientists and academics who live abroad, to return to China in interest of developing and improving their nation’s economy and technological sector.