Caixin
May 11, 2022 08:28 PM
BUSINESS

China Launches First ‘Bioeconomy’ Five-Year Plan

A national seed breeding base located in Sanya city, Hainan province. Photo: VCG
A national seed breeding base located in Sanya city, Hainan province. Photo: VCG

China has launched its first five-year plan for the development of biotechnology economy, vowing to raise the value of the sector to 22 trillion yuan ($3.3 trillion) and nurture more companies with revenues upward of 10 billion yuan.

The plan, published Tuesday by the National Development and Reform Commission (NDRC), aims to grow the contribution of what is dubbed the ‘bioeconomy’ to China’s GDP.

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