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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 205

China Business Intelligence No. 205

Samsung Economic Research Institute Beijing Office

Sept. 27, 2011

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China has ramped up the production of agriculture and livestock products by successfully developing new GMO varieties and tightened safety monitoring of GMO products. In 2008-2010, China cultivated 36 insect-resistant cotton varieties and supplied them to 167 million mu (Chinese land unit: 666.7 ㎡ ) of land, posting 16 billion yuan in profit and a 93% market share. Meanwhile, the biopharmaceutical industry's 2010 total sales exceeded 100 billion yuan, over-achieving the goal set under the 11 th Five-Year Plan. In 2006-2010, the biopharmaceutical industry's sales shot up 272%. The biopharmaceutical industry's development, however, has been mainly driven by generic drugs and active pharmaceutical ingredients (API) because China's biopharmaceutical companies are weak in independent R&D capability. The central government has unleashed a series of support policies for the biopharmaceutical industry, one of the new industries intensively supported by the 12 th Five-Year Plan. The development of China 's biotechnology also offers opportunities to foreign-invested companies packed with advanced technology and financial power.

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