China Launches First ‘Bioeconomy’ Five-Year Plan

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.