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US, China can save the world

(China Daily)
Updated: 2009-10-13 09:57

Turning plastic rubbish into harmless waste, creating super fuels that don't pollute the environment and creating special drugs that can cure baffling diseases.

The next golden age of biotech breakthroughs depends on the collaboration between China and San Francisco.

This was the inspiring message Deputy Mayor of San Francisco Michael Cohen gave business people in Beijing yesterday.

"I truly believe the age of biology will be centered in China and the western coast of the United States," he said on his first day of a 7-day visit.

"There are incredible opportunities both for the City of San Francisco and for China to grab during this historic time."

He said China and the US could team up to save the world.

The deputy mayor of the most populous city in the San Francisco Bay Area - home to the world's largest center for bio- and green tech companies - wants more Chinese companies to establish offices in his city, which is considered as the gateway for Chinese businesses looking to enter the North American market.

"We are focusing on biotech, life science, financial services, information technology, as well as real estate opportunities, because they are of great interest to China and are the backbone of San Francisco's economy," he said.

Already 10 Chinese companies have so far set up offices in the city over the past year most focusing on solar and biotech industries.

Their US move follows the establishment of ChinaSF, an initiative to help Chinese companies relocate.

"San Francisco has a very strong political will for supporting biotech and green technology companies with tax incentives," he said. "Many are drawn to the city because policies from the government create huge financial opportunities."

The deputy mayor is also scheduled to visit Shanghai and Taizhou in Jiangsu province.

Du Xin'an, director of the administrative commission of Beijing Economic-technological Development Area (BDA), said he would be very interested in setting up an office of the organization in San Francisco to facilitate economic cooperation across the Pacific.

As the only national-level development zone in the city, BDA is home to nearly 200 biotech and pharmaceutical companies and contributes to 40 percent of the total revenue in pharmaceutical industry in Beijing.

Cohen also wanted to create "incubator" policies at Mission Bay, in San Francisco, so small- and medium-sized Chinese companies could "get the benefit of the connections to research capabilities and financial resources in the area and grow and foster connections between the North America community and China."