The Chinese government has made it well known by now that it wants to be a bigger player in biotech by announcing it will invest more than $300 billion in the next 5 years. That kind of bait is drawing ex-Pats back to China from US biotechs to start up new biotechs or join other start ups.
Says Xe Xin, a relocating researcher, "Though we were well paid at American companies, we wanted to be more than just employees. We are in our mid-30's and wanted to return home and make things happen."
We can expect this trend to continue as many well educated and well trained Chinese return to their homeland to exercise their entrepreneurial spirit in a land of heightened opportunity fueled by generous government investment and tax policies.
The US government should take note and work with the groups like BIO to ensure we maintain policies and investment levels in US biotech to keep it at its current front-runner position in the World. But don't look back as China may be gaining on us. See Fierce Biotech.
Posted by Bruce Lehr Aug 19th 2011.
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