China unveils five-year plan to grow biotech sector from $3M to $522B by 2030

China's Ministry of Industry and Information Technology released a new five-year biotech plan that sets out ambitious growth targets for the sector.

The plan aims to expand the industry from roughly 20 million yuan (about $3 million) to 3.5 trillion yuan (about $522 billion) by 2030, with an annual growth rate of 20%.

China also targets at least 25% of first‑in‑class drugs on the global market to originate domestically and hopes five Chinese‑developed medicines will achieve blockbuster status with sales exceeding $1 billion.

By the end of the period, 50 companies are expected to generate revenues of at least 10 billion yuan (around $1.5 billion) each.

The initiative follows a series of five‑year plans dating back to 2007 and signals a shift from a supplier role toward a global innovation leader in biotechnology.