On October 14, the U.S. Deputy Minister of Commerce, Frank Sanchez, led a U.S. bio-trade delegation to visit China and witnessed with the relevant Chinese parties that the U.S. Tiakart and Kotia (Xinxiang) Biotechnology Co., Ltd. Renewal ceremony.

In recent years, China and the United States have frequently contacted and cooperated in the field of biotechnology, continuously enhanced mutual understanding and communication, and at the same time promoted the economic linkage of related industries to further enhance China’s overall strength in the world’s biotechnology field and form a complementary technological resource and economic development. The positive interaction situation.

Wang Hongguang, former head of the biological team of the Chinese Ministry of Science and Technology, said at the signing ceremony that the United States is the world’s largest economy and has annual research funding for medical treatment of US$80 billion. And China is the most potential country in the world of medical consumption. Last year, China had 3.6 billion visits to hospitals and the number of hospitalizations exceeded 80 million. Therefore, cooperation between the two countries in the medical field will promote the continuous development of the two countries in the medical field.

Wang Hongguang stated that in 2000, China’s drug sales amounted to less than 20 million yuan, and in 2010 it reached 1.2 trillion, which has increased by 6 times in 10 years, becoming the fastest growing country in the world for pharmaceutical sales, and it is expected to sell for 5 years later. The amount may reach 4 trillion yuan.