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The biotechnology market consists of the development, manufacturing, and marketing of products based on advanced biotechnology research. The Chinese biotechnology market had total revenues of $13.3bn in 2012, representing a compound annual growth rate (CAGR) of 16.2% between 2008 and 2012. Chinese state council decided to focus on the domestic biotech industry to tackle problems such as food safety and energy conservation, as well as environment protection. The performance of the market is forecast to decelerate, with an anticipated CAGR of 15.7% for the five-year period 2012 - 2017, which is expected to drive the market to a value of $27.5bn by the end of 2017.
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