China plans to flex some financial muscle by investing $308 billion in governement funds between now and 2015 to generate 1 MILLION new biotech jobs. The ambitious program is part of the 12th Five-Year Plan (2011-2015). In the healthcare arena, the broad goal is to add one extra year of life expectancy and a lower infant mortality rate.
The government plans to make biotechnology into an "economic pillar". It will reserve 20 billion yuan for new drug development and control of disease in the process. Don't look back US, somebody may be gaining on us! Better get the biotech investment bill moving here too. See Fierce Biotech.
Posted by Bruce Lehr June 28th 2011.