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The government of southwest China's Yunnan Province says it welcomes overseas scientists, research institutes, universities and companies to invest in or work with local enterprises in developing its pharmaceuticals sector.
Yunnan, known as China's botanical kingdom, boasts 15,000 valuable tree species used in herbal medicine.
The province has pledged to give priority to developing biological and natural drugs and traditional Chinese medicine in the 21st century.
Under a long-term provincial medical plan, the output of Yunnan's pharmaceuticals sector is expected to reach 10 billion yuan (US$1.2 billion) by 2007. It will climb to 30 billion yuan (US$3.6 billion) by 2012.
The provincial government is encouraging innovation in pharmaceuticals production, boosting brand-name medicines and speeding up standardization in this respect. It says it will support key pharmaceutical projects by investing in laboratories and projects with special funds and extending other support to them.
Scientific researchers who have developed new drugs are allowed to become shareholders using their research results as registered capital.
The government will also provide financial assistance to overseas researchers who intend developing their high-tech research results in Yunnan.
(Xinhua News Agency February 11, 2003)
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