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BUSINESS & TECH

Biotech Firm BGI Denies Accusations of Property Development, Bribery

BGI Group hosts a stand at an exhibition in Wuhan, Hubei province, in June 2017. Photo: IC
BGI Group hosts a stand at an exhibition in Wuhan, Hubei province, in June 2017. Photo: IC

Genome sequencing company BGI Group said it has obtained land for health care projects “though normal means” and it will never develop commercial property — a response to accusations that it was snapping up real estate through deceit or bribery.

In an open letter addressed to the Jiangsu provincial government in late June, industry peer Nanjing Changjian Jiayu Health Management Co. Ltd. said that BGI’s Shenzhen-listed unit, BGI Genomics Co. Ltd. snapped up hundreds of acres of land as well as generous subsidies in Jiangsu cities that included Suzhou, Nanjing, Wuxi and Xuzhou.

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