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Plan to foster biological science as pillar sector

THE state Council has approved guidelines to encourage the development of biological science in the country, making it one of the pillar industries.

The government will encourage the development of major biological science companies as well as small firms which have independent intellectual property rights, the Cabinet said yesterday.

China will promote biological science in such areas as bio-pharmaceutical, bio-agriculture and bio-energy.

It will also encourage the setup of venture capital institutions and financial service providers to boost the industry. Support will also be offered to biological science companies which are planning to go public on the domestic or overseas markets.

Key enterprises with strong research ability will be fostered while small and medium firms will enjoy favorable policies regarding employment and financing channels.


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