It is understood that on May 13, Premier Wen Jiabao of the State Council presided over the executive meeting of the State Council to study and deploy the role of science and technology support and speed up the implementation of major national science and technology projects. The meeting discussed and adopted the "Policy for Accelerating the Development of the Biological Industry." The meeting stated that the central government will invest 62.8 billion yuan to promote the implementation of major science and technology projects, and cultivate the bio-industry industry into a pillar industry in the high-tech field in China.
The meeting proposed to focus on the development of bio-pharmaceuticals and other industries, and vigorously develop the bio-industry from seven aspects. In 2009, the central government will allocate 32.8 billion yuan. In 2010, it will arrange about 30 billion yuan to drive business investment, mainly to promote new GMOs. Breeding of varieties, research and development of major new drugs, and prevention of major infectious diseases such as AIDS and viral hepatitis.
According to Guo Fanli, an analyst at China Investment Group in the pharmaceutical industry, the government has adopted the "Several Policies to Accelerate the Development of the Biological Industry," which fully demonstrates the government's emphasis on high-tech and the emphasis on the bio-industry. The central government has allocated more than 60 billion yuan to the Chinese medicine industry. Among the 11 special projects, 2 special events belong to the pharmaceutical industry, which shows that the country attaches great importance to the pharmaceutical industry.
According to the data from the China Investment Consulting Industry Research Center, in 2008, China’s bio-industry realized more than 8,600 billion yuan in output value, which was a year-on-year increase of 26%. In 2009, it may exceed 1 trillion yuan. By 2020, it will exceed 4 trillion yuan. The China Investment Consulting Industry Research Center predicts that the biopharmaceutical industry will be the pillar industry of future medicines, and its contribution to China's GDP may reach over 10% in the future.