The Flanders-China Chamber of Commerce (FCCC) has made a study with the support of Flanders Investment & Trade (FIT) on opportunities for Flanders' companies in the biotech sector in China. At the request of FIT, the study is published in the Dutch language.
Biotechnology is one of the sectors in which China wants to excel and reach the top level on a world scale. Other priority sectors are semiconductors, renewable energy, electric vehicles, and new materials. It is useful to consult the 14th Five Year Plan and other official planning documents such as the “Made in China 2025” program to learn more about the priorities of the Chinese authorities. In the healthcare sector it is useful to check which are the most common diseases in China because that's what the government will prioritize. This is less so for biotech because everything in this sector is a priority. China started late to reach the top in biotech but has made big strides forward in the past years. It is advisable to follow developments closely. In some sub-sectors China is more advanced compared to other sectors, where it is still lagging behind. Those will be the sub-sectors where foreign companies are most welcome. The aim of the government is for Chinese companies to attain a 70% market share in the domestic market by 2025.
The study looks at investments in the biotechnology sector, the numerous biotech zones, and important institutes and laboratories. It provides an overview of the most important developments in biotech and some of the latest news from companies active in the field. The study introduces the China Biomedical industrial Barometer, but also warns about possible U.S. sanctions which might be imposed on Chinese biotech companies in the future. The study includes some tips for foreign companies doing business in China and provides useful references and contacts.
You can obtain a copy of the study in PDF format by sending a email to : info@flanders-china.be
