A Reserch On Financial Support Of Biotechnology Industry In China

At present, biotechnology industry is one of high-tech industries which develop fastest and have a promise future. It is one of a few industries which return to maintain a rapid growth after the financial crisis. It is also the main driving force in the development of today’s international science and technology. Biotechnology industry has become a focus of international competition, it is of great strategic significance to solve the human face of population, health, food, energy, the environment, and other major issues. In 《The national medium-and long-term science and technology development program (2006-2020)》, biotechnology has been one of the five strategic priorities as a technology development.《The decision of the State Council on accelerating the cultivation and development of strategic industries》, which has been adopted in September2010,has also include the biotechnology industry as a strategic industry. In order to comprehensively promote the rapid development of China’s biotechnology industry,《The "Twelve-Five" bio-technology development plan》 has been released in November2011. At present, many countries are actively taking various measures to promote the development of biotechnology industry. By analyzing the biotechnology industries we can see that biotechnology industry has the characteristics of high-tech, high investment, high risk and long-period, but with a thicker profit far more than other industries once it success. The characteristics of biotechnology industry and its law of development determines its funding requirements in various stages of development. This paper analyzes the status of biotechnology industry in our country, including the achievements of the current in the industry in China and existing problems. Followed with the introduction of mutual relation between technological innovation and financial development explain the important support role for technology innovation. Then through analysis of the current situation of financial support of the biotechnology industry in China, concluded that China’s current financial sources and gaps on the biotechnology industry exists R&D less, source of funding allocation is reasonable, as well as issues such as inadequate investment and analysis of the causes of the lack of financial support.Policy proposals have been put forward on problems existing in China by use the good experience of both developed and developing countries whose biotechnology industry are running well. Focus on the stages in the life cycle of the biotechnology industry funding requirements, the view is to combine the financial support of the government with private financing such as: Government funds; loans from financial institutions; capital markets; venture capital; guarantees and other forms of credit to support the biotechnology industry in China. And also point out the necessary conditions such as:laws and regulations system; policy environment; the service intermediary and the construction of talents team to strengthen the financial support for the development of the biotechnology industry.