Chinese Biotech Firms Expand Globally After Domestic Success

Chinese biotech firms are planning significant global expansions following their domestic successes. With profits narrowing in China and production capacity increasing, these firms are targeting international markets for growth.

Guo Henghua, president of Anhui Huaheng Biotechnology, highlighted that overseas orders now represent about half of the company's total sales, indicating strong demand for closer supply chains and manufacturing.

He believes that within the next five to ten years, Chinese companies will achieve major breakthroughs in establishing regional manufacturing and supply systems abroad. According to a report by Economic Daily, He Yaqiong, director of the consumer goods department at the Ministry of Industry and Information Technology, stated that China currently holds over 70 percent of global fermentation capacity, a crucial segment in the biotech industry.

Industry leaders express optimism about the prospects for Chinese biotech firms, although they caution that weak patent portfolios and protectionist measures in foreign markets may pose challenges to their expansion efforts.