For all the attention on U.S.-China AI competition, new studies point to China's rapid rise in biotechnology, especially for drug and agricultural development.
China’s biotech industry has evolved to the point that U.S. and European pharmaceutical giants in the last several months have spent billions to acquire China-developed drugs that could treat cancer if commercialized with regulatory approval. In March, British pharmaceutical giant AstraZeneca announced it will invest $2.5 billion in a research and development center in Beijing.
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