The Market of China Implicits Huge Potential of Development
The growth of China’s economy is one of the fastest in the world. The average annual rate of the GDP is bidigitate and it doubles every 9th year. China has become the world’s forth largest country in GDP output in the world. Having the largest population in the world, the market potential of China is enormous. The field of life sciences, biotechnology and equipment is expected to expand even further. The government of China proposes a strategic guidance of the great development of bio-economy in 2009. The country is committed to promote research in the field of biotechnology. It is estimated that the GDP of China's biotechnology industry will exceed 800 million RMB in the year 2010.
Shanghai , the Best City for BIOTECH CHINA 2010
Shanghai, along with Yangtze Delta, is the most important economic centre. A large number of top research centres and relevant companies are located here.
As the Shanghai Municipal Government constantly increases investment on scientific research, the expenditure on scientific R&D has for the first time exceeded 20 billion RMB in 2005, and up to 21.377 billion. The year 2006 witnessed the peak of 25.9 billion, 4.523 billion more than previous year, with the increase rate of 21.2%
Five mature biotechnology parks have been set up in Shanghai. Zhangjiang Hi-Tech Park in Shanghai Pudong New District, which is called 'Pharmacy Valley', has more than 50% of its companies focused on biotechnology and pharmacy.
Shanghai, along with the surrounding area, is the largest producer of China's food, chemicals and medicines as related industrial demands are immense.
