BEIJING--China hopes to seed its biotechnology industry with a national incubation center in Beijing.
Last week, officials announced that the Beijing International Trust and Investment Co. Ltd. would invest $160 million over 3 years to create the China National Academic Center for Biotechnology. The center, whose goal will be nurturing 100 companies and up to 500 research labs, will focus on the start-up and development phase of companies created to exploit Chinese technologies. Zhu Zhen, an expert in plant genetics engineering with the Chinese Academy of Sciences, says the Beijing center is well-positioned to help scientists overcome traditional obstacles to turning their discoveries into products.