ChinaBio(R) LLC Release: China Earmarks $11.8 Billion for Drug Innovation in 2016-2020 Five-Year Plan

Published: Jul 02, 2012

by Richard Daverman, PhD

June 29, 2012 -- China plans to spend 75 billion RMB ($11.8 billion) to increase biopharma innovation in its 13th Five-Year Plan, which covers the period 2016-2020. That is almost double the 40 billion RMB ($6.3 billion) it will spend in the current period, the 12th Five-Year Plan for 2011-2015, bringing its ten-year total to over $18 billion. The news was delivered by Chen Zhu, China’s Minister of Health, who was speaking recently at the BioChina Convention. More details.....

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