Singapore: Executives from biotech and pharmaceutical companies, along with investment firms from North America, Europe and Asia, gathered at 3rd annual BIO Convention in China, to meet and explore business opportunities with China's emerging biotech sector.

Hosted by the Biotechnology Industry Organization (BIO), the program is conducted from November 12 to November 13 at the China National Convention Center in Beijing, China.

"China's biotech sector is growing at a steady pace, with double digit growth in sales revenues and profits," said Mr Jim Greenwood, CEO, President, BIO. "BIO continues to play an important role in facilitating the emergence of the biotech industry in China and we are committed to supporting our members' efforts in this important market," he added.

Three keynote speakers will provide insights on the business opportunities surrounding the biotech sector in China, including Mr Gary F. Locke, Ambassador of the United States of America to the People's Republic of China; Mr Bian Zhenjia, Assistant Minister, China Food and Drug Administration; and Mr Zhao Yajun, Director General, China Center for Pharmaceutical Exchange.

The BIO Convention in China is designed to help both US and Chinese companies capitalize on the many opportunities in China's rapidly growing market. According to GlobalData, China's prescription drug market is projected to grow at a 26 percent compound annual rate, reaching $315 billion in 2020. It recorded $48 billion in 2012.