[Federal Register Volume 76, Number 61 (Wednesday, March 30, 2011)]
[Notices]
[Pages 17621-17622]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-7471]
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DEPARTMENT OF COMMERCE
International Trade Administration
Biotech Life Science Trade Mission to China
AGENCY: International Trade Administration, Department of Commerce.
ACTION: Notice.
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Mission Description
The United States Department of Commerce, International Trade
Administration, U.S. and Foreign Commercial Service (CS) is organizing
a Biotechnology Life Sciences trade mission to China on October 17-20,
2011. Led by a senior Department of Commerce official, the mission to
China is intended to include representatives from a variety of U.S.
biotechnology and life science firms and trade organizations. The
mission will introduce mission participants to end-users, prospective
partners, and investors whose needs and capabilities are targeted to
the respective U.S. participant's strengths and needs. Participating in
an official U.S. industry delegation, rather than traveling to China
independently, will enhance the participants' ability to secure
meetings in China. The mission will include site visits to biotech
industrial parks, government meetings, and receptions in Beijing and
Hong Kong. Trade mission participants will have the opportunity to
interact with Commercial Service (CS) specialists and State Department
officers covering intellectual property rights issues and biotechnology
to discuss industry developments, opportunities, and sales strategies.
Commercial Setting
U.S. biotech and life science firms often consider China the most
important future market in terms of sales and clinical trial
opportunities, and potential investment. China's enormous consumer base
and impressive economic growth further reinforce the importance of the
market for U.S. firms. However, China's legal and regulatory landscape
often complicates market entrance for many U.S. firms. Since these
trade policy issues are frequent topics of high-level bilateral
discussions between the U.S. Government and the Chinese Government, a
Trade Mission led by the U.S. Department of Commerce offers an
attractive entr[eacute]e for U.S. firms and associations in the Chinese
market. With some 200 pharmaceutical companies operating in Hong Kong
(with many involved in the fast-growing specialty of Chinese
Traditional Medicine), which possesses excellent research facilities
and business infrastructure, regulatory linkages into the mainland, and
a strong venture capital community, Hong Kong offers an ideal
complement to a policy-centered mission program in Beijing. Hong Kong
is also a leading center for bio-medical clinical trials in Asia.
The Biotech Life Science Sector
Despite the global financial crisis, China's GDP growth is widely
expected to grow by approximately eight percent in 2011. While U.S.
venture capital investment in biotech and life science companies has
slowed, Chinese pharmaceutical and biotech industries are demonstrating
a healthy appetite for funding novel, early-stage technologies. Major
U.S. biotech firms have established licensing and partnering offices in
China specifically to seek these opportunities.
Over 2,000 novel molecules have been patented in China, 96 are in
clinical trials, and 27 new drugs have launched in the last five years,
20 of which are novel biologics. There are novel molecules at all
stages of development in China, and Chinese companies and institutes
are anxious to partner with Western companies for development and
distribution of these valuable assets.
There are also over 300 clinical research organizations in China
offering high quality services supporting drug discovery and
development projects of major pharmaceutical and biotech companies
worldwide. Many of these are willing to work on a risk sharing or
collaborative basis with their sponsors.
Mission Goals
The short term goals of the trade mission to China are to (1)
introduce U.S. participants to potential customers and strategic
partners, including investors, (2) introduce U.S. participants to
industry and government officials in China to learn about various
opportunities, and (3) to educate the participants about trade policy
and regulatory matters involved in doing business in China.
Mission Scenario
In Beijing, the U.S. mission members will be briefed by the U.S.
Embassy's Counselor for Commercial Affairs, the Commercial Specialist
for the biotechnology sector, and other key U.S. Government officials.
Senior Embassy officials will host a networking event for the group
with Chinese biotech and life science industry organizations and
multipliers. In Hong Kong, U.S. participants will benefit from
customized one-on-one matchmaking
[[Page 17622]]
with potential partners, a market briefing by the Commercial Specialist
for the biotech life science sector at the U.S. Consulate, and
networking activities. Site visits to Hong Kong's Science & Technology
Park and leading research universities may be offered.
One week prior to the Trade Mission, it should also be noted that
from October 12-13, there will be a BIO China (http://www.bio.org/biochina) trade event in Shanghai that will focus on the biotech
sector. Though BIO China is not officially linked to the Commerce
Department's Biotech Life Science Trade Mission to China, U.S. trade
mission participants may opt to precede the October 17-20, 2011 Trade
Mission by participating in this event.
Participation in the mission will include the following:
Pre-travel briefings/webinar on subjects ranging from
business practices in China to intellectual property rights;
Pre-scheduled meetings with potential partners,
distributors, end users, Clinical Research Organizations, or investors
in Hong Kong;
Transportation to and from airports in Beijing and Hong
Kong;
Meetings with Chinese Government officials;
Participation in industry receptions in Beijing and Hong
Kong;
Meetings with CS China's biotech and life science industry
specialists in Beijing and Hong Kong.
Proposed Timetable
Mission participants will be encouraged to arrive October 15 or 16,
2011 and the mission program will proceed from October 17 through
October 20, 2011.
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October 17...................... Beijing.
Market briefings by U.S. Embassy
Beijing officials.
Meetings with Chinese Ministry of
Health and State Food and Drug
Administration officials.
Networking reception.
October 18...................... Beijing.
Tour of Bio Parks and Research
Facilities.
Travel to Hong Kong.
Business meetings.
October 19...................... Hong Kong.
One-on-one business matchmaking
appointments
Briefings from Hong Kong government,
industry association, and American
Chamber representatives.
Tour of Science & Technology Parks.
Networking reception
October 20...................... Hong Kong.
One-on-one business matchmaking
appointments.
Visits to Research Facilities (tbd).
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Participation Requirements
All parties interested in participating in the Biotech Life Science
Trade Mission to China must complete and submit an application for
consideration by the Department of Commerce. All applicants will be
evaluated on their ability to meet certain conditions and best satisfy
the selection criteria as outlined below. A minimum of 15 and a maximum
of 20 participants will be selected for the mission from the applicant
pool. U.S. companies and associations already involved with and/or
doing business in China as well as U.S. companies and associations
seeking exposure to the market for the first time are encouraged to
apply.
Fees and Expenses
After a participant has been selected for the mission, a payment to
the Department of Commerce in the form of a participation fee is
required. The participation fee will be $3,270 for large firms and
$2,327 for a small or medium-sized enterprise (SME) \1\ or small trade
organization, which will cover one representative. The fee for each
additional firm representative (large firm or SME) is $500. Expenses
for travel, lodging, most meals, and incidentals will be the
responsibility of each mission participant.
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\1\ An SME is defined as a firm with 500 or fewer employees or
that otherwise qualifies as a small business under SBA regulations
(see http://www.sba.gov/services/contractingopportunities/sizestandardstopics/index.html ). Parent companies, affiliates, and
subsidiaries will be considered when determining business size. The
dual pricing reflects the Commercial Service's user fee schedule
that became effective May 1, 2008 (see http://www.export.gov/newsletter/march2008/initiatives.html for additional information).
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Conditions for Participation
An applicant must submit a completed and signed mission application
and supplemental application materials, including adequate information
on the company's products and/or services, primary market objectives,
and goals for participation. If the U.S. Department of Commerce
receives an incomplete application, the Department may reject the
application, request additional information, or take the lack of
information into account when evaluating the applications.
Each applicant must also certify that the products and
services it seeks to export through the mission are either produced in
the United States, or, if not, marketed under the name of a U.S. firm
and have at least fifty-one percent U.S. content.
Selection Criteria for Participation
Selection will be based on the following criteria:
Suitability of a company's products or services to the
mission's goals;
Applicant's potential for business in China, including
likelihood of exports resulting from the trade mission;
Consistency of the applicant's goals and objectives with
the stated scope of the trade mission.
Referrals from political organizations and any documents containing
references to partisan political activities (including political
contributions) will be removed from an applicant's submission and not
considered during the selection process.
Timeframe for Recruitment and Applications
Mission recruitment will be conducted in an open and public manner,
including publication in the Federal Register, posting on the Commerce
Department trade mission calendar (http://export.gov/trademissions/)
and other Internet Web sites, press releases to general and trade
media, direct mail, notices by industry trade associations and other
multiplier groups, and publicity at industry meetings, symposia,
conferences, and trade shows. Recruitment for the mission will begin
immediately and conclude no later than 08/15/2011. The U.S. Department
of Commerce will review all applications immediately after the
deadline. We will inform applicants of selection decisions as soon as
possible after 08/15/2011. Applications received after that date will
be considered only if space and scheduling constraints permit.
Contacts
U.S. Commercial Service Domestic Contact: Douglas Wallace,
Commercial Officer, 415-705-1765, [email protected].
Elnora Moye,
U.S. Department of Commerce, International Trade Administration.
[FR Doc. 2011-7471 Filed 3-29-11; 8:45 am]
BILLING CODE 3510-FP-P