Box 5. Box 5 Recommendations for biotech development in China

From the following article

Chinese health biotech and the billion-patient market

Sarah E Frew, Stephen M Sammut, Alysha F Shore, Joshua K Ramjist, Sara Al-Bader, Rahim Rezaie, Abdallah S Daar & Peter A Singer

Nature Biotechnology 26, 37 - 53 (2008)

doi:10.1038/nbt0108-37

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On the basis of our study of China's private health-biotech companies, we offer below seven recommendations to encourage continued development of the sector.

  • Reform the financial environment to facilitate exit mechanisms for entrepreneurs and investors in the health-biotech sector.
  • Create and promote specialty programs in biotech entrepreneurship and management.
  • Leverage the 'sea turtle' phenomenon to promote transnational companies that will be attractive to Western investors and strategic partners.
  • Promote credibility of domestic firms to the international community by enforcing uniform financial reporting, a transparent regulatory regime and fair business practices.
  • Enact timely legislation and regulations to nurture scientific and economic development.
  • Stimulate rapid development of the IP infrastructure through academic and exchange programs.
  • Strengthen health systems infrastructure and distribution mechanisms in concert with the development of the industry to ensure that innovative health-biotech products are available to the entire domestic population.