Foreign invested enterprises are gaining greater access to the biotech industry in China. Six companies in the Shanghai Pilot Free Trade Zone have completed changes to their business scopes. This allows them to now engage in the development and application of technologies for human stem cells, genetic diagnosis, and treatment. In September, China issued a notice, allowing foreign-invested enterprises to engage in China's opening-up drive in the biotechnology field in the Shanghai FTZ. But it turned out that business scopes of foreign-invested enterprises' business licenses, all carried a restriction note that specifically excluded such activities. Shanghai authorities were quick to react, removing the restrictions.
CHEN LI Executive Assistant to the President of Neukio Biotherapeutics "Today's change removes that exclusion, and we have officially changed our business scopes that include the operation of human stem cells and genetic diagnosis and treatment, which means foreign-invested enterprises like us, are now formally allowed to engage in cell and gene therapy investment and R&D. This is a huge boost for the us in the biotechnology industry."
