Chinese Biotech Firms Expand Globally After Domestic Success

Chinese biotech firms are planning significant global expansions following successful domestic operations. With domestic profits narrowing and production capacity expanding, these firms are increasing their overseas presence to tap into more lucrative markets.

Guo Henghua, president of Anhui Huaheng Biotechnology, mentioned that orders from overseas account for about half the company's total sales, highlighting the demand for closer supply chains and manufacturing locations.

Experts predict that within five to ten years, Chinese companies will achieve major breakthroughs in international expansion and regional manufacturing integration. Additionally, China accounts for over 70 percent of global fermentation capacity, a crucial segment of the biotechnology industry, according to He Yaqiong, director of the consumer goods department at the Ministry of Industry and Information Technology.

However, challenges such as weak patent portfolios and protectionist measures in foreign markets could hinder their progress.