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Checkbiotech: Biotech research investment advocated
Posted by: Prof. Dr. M. Raupp (IP Logged)
Date: September 07, 2005 07:24AM ; ;

China can become the world's leader in biotechnological applications in
agriculture, medicine and industry over the next five to 10 years, according
to one industry insider. This can be achieved with an investment of 100
billion yuan (US$12.3 billion), September 2005.

"At least 30 billion yuan (US$3.7 billion) must come from the central
government," Wang Hongguang, director of the China National Centre for
Biotechnology Development, told China Daily yesterday.

In his eyes, biotechnology can become a driving force behind the country's
economy, and the world's, if the government pays it due attention.

Between 2001 and 2005, the State has plunged 12 billion yuan (US$1.5
billion) into biotechnology development and application, and now the sector
boasts 600 billion yuan (US$74 billion) in terms of both its total
investment and fixed assets.

"The figure, although 10 times as much as a decade ago, must be at least
doubled in the next five years to maintain the current high momentum," Wang

Breakthroughs are expected in the fields of life research, environment and
energy, but, Wang warned, the country is "suffering from a brain drain and a
lack of funds."

These remarks were made as a prelude to the International Bio-economy
Symposium slated for September 13 and 16 in Beijing.

More than 3,000 related international officials and experts from up to 20
countries, regions and organizations are expected to participate in this
high-profile conference, which will cover various topics concerning basic
life science, energy-related biotechnology and biological security.

China has amazed the world with several outstanding achievements in genetic
therapy, vaccination and food fermentation. Some of its well-funded
projects, such as therapeutic vaccines against AIDS and hepatitis B and
transgenic plants, are expected to yield results.


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