Beijing is upgrading and expanding a nationwide bio-ecosystem, with 43 companies and research institutes selected in the first batch of pilot-scale manufacturing platforms for products ranging from biopharmaceuticals to food additives and enzymes to cosmetics, according to a statement from the Ministry of Industry and Information Technology (MIIT) earlier this month.
The ministry’s plan highlights the sector’s importance as the country’s next growth engine, analysts said.
“In the coming years, biotech, including innovative drugs, will definitely be a top priority for the country,” said John Yung, managing director and head of Asia healthcare research at Citigroup. “The country needs to grow the whole ecosystem by upgrading manufacturing lines and production capacity, along with expanding clinical management abilities.”
Yang Huang, head of China healthcare research at JPMorgan Chase echoed the view, noting “biological manufacturing has been identified as one of the key economic growth drivers in the government’s 15th five-year plan”.
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