Jilin ex­pects ‘in­dus­trial boom’ fromin­no­va­tion and up­grad­ing

China Daily (Canada) - - BUSINESS - By LYUCHANG in Bei­jing and LIU MINGTAI in Changchun

North­east China’s Jilin prov­ince will ex­pe­ri­ence an “in­dus­trial boom” driven by the coun­try’s ini­tia­tive to pro­mote in­no­va­tion and up­grade in­dus­try, of­fi­cials said.

Jiang Youwei, vice-gov­er­nor of Jilin, said that in­no­va­tion and up­graded tech­nolo­gies will help drive growth in sec­tors such as bio­phar­ma­ceu­ti­cals and e-com­merce, which will also help cre­ate more jobs.

By 2020, Jilin aims to de­velop its bio­phar­ma­ceu­ti­cal in­dus­try to reach a mar­ket value of 530 bil­lion yuan ($81.5 bil­lion), ac­count­ing for 7 per­cent of the to­tal GDP of the prov­ince.

To reach that goal, the sec­tor will need to put more ef­fort into in­no­va­tion and form large-scale en­ter­prises, said Jin Lei, gen­eral man­ager of GeneS­cience Phar­ma­ceu­ti­cals Co.

The Changchun-based com­pany’s rev­enue hit 1.1 bil­lion yuan last year.

Jin said the com­pany, which spe­cial­izes in the pro­duc­tion of drugs to treat growth hor­mone de­fi­ciency, puts 10 per­cent of its to­tal sales rev­enue each year into re­search and de­vel­op­ment, which has helped the com­pany main­tain steady growth for 15 con­sec­u­tive years.

By 2015, its pay­roll in­creased from 1,200 to 1,650. And the com­pany plans to add an­other 260 em­ploy­ees this year as its prod­ucts are ex­pand­ing to help deal with dis­eases such as di­a­betes and gout.

The com­pany in­vented seven ge­netic en­gi­neer­ing phar­ma­ceu­ti­cal drugs, filling the gaps in the do­mes­tic mar­ket. And it made sig­nif­i­cant pro­gresses in help­ing chil­dren over­come prob­lems re­lated to growth hor­mone de­fi­ciency, and im­prov­ing the treat­ment of short stature chil­dren in China.

In 1998, GenSci launched the first re­com­bi­nant hu­man growth hor­mone for in­jec­tion in China. Be­fore, the do­mes­tic mar­ket of hu­man growth hor­mone was dom­i­nated by im­ported prod­ucts.

In the next five years, the com­pany profit growth from growth hor­mone rev­enue is ex­pected to reach more than 3 bil­lion yuan, Jin said.

Con­tact the writ­ers at lvchang@chi­nadaily.com.cn and li­um­ing­tai@chi­nadaily.com.cn

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