China's vaccine industry to be reorganized for better growth

Updated: Oct 16, 2019 Xinhua Print
Share - WeChat

BEIJING - China will push forward the reorganization of the vaccine industry to promote the growth of larger vaccine makers, an official said.

Chinese authorities will seek a higher level of vaccine industry concentration and spur the growth of viable companies, with measures like raising the bar for market access and bettering the bidding process, said Wang Jiangping, vice minister of industry and information technology at the inauguration of the China Association for Vaccines (CAV) on Tuesday.

To address the people's needs and solve the problems in China's vaccine industry, the country needs to increase industry concentration and encourage innovation, he said.

The CAV is expected to provide business counseling and technology services for vaccine companies nationwide, as well as respond to public inquiries, said Wang.

The annual output of China's vaccine industry stood at 25 billion yuan (about 3.5 billion US dollars). Among the 45 vaccine companies currently operating in China, only 38 are in production, and 20 produce only one type of vaccine annually.

Copyright©2024 China Daily. All rights reserved.


京公网安备 11010502032503号 京公网安备 11010502032503号