Chinese bio-industry output to reach 1.5 trillion USD by 2022: report

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 worlds forefront.

The report also said Chinas bio-industry had seen enhanced innovation and improved technology.