The Chinese government has made the development of its next-gen technology industries a big priority, and biotech is coming in for some star treatment.
China's economic minister recently tapped biotech as one of seven key industries that the government intends to foster over the next 10 years. Zhou Zixue now projects that biotech in China will grow at an annual rate of 24.1 percent between 2011 and 2015 before slowing down to a blistering hot 21.3 percent growth rate in the following five years.
Reuters has already reported that China may sink $1.5 trillion into its top tech industries to make sure that they stay on pace.
- here's the story from Reuters