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China’s bio-industry output to reach $1.5 trillion by 2022

Updated: Nov 8,2017 8:59 AM     Xinhua

TIANJIN — The output of China’s biological industry is expected to reach 10 trillion yuan ($1.5 trillion) in 2022, a report said on Nov 7.

The compound annual growth rate of the bio-industry in China has been over 15 percent since 2011, according to a white paper on the industry jointly released by Tianjin Institute of Industrial Biotechnology and Chengdu Library and Information Center, both affiliated with Chinese Academy of Sciences.

Last year, the scale of the industry stood at about 4 trillion yuan. Output of fermented products ranked first in the world, and bio-energy substitutes in China are at the world’s forefront.

The report also said China’s bio-industry had seen enhanced innovation and improved technology.