China Denounces U.S. Biosecure Act Targeting Chinese Biotech Firms
In a move that has intensified trade tensions between the world's two largest economies, China has firmly opposed the passage of the Biosecure Act by the U.S. House of Representatives. The legislation, which aims to restrict U.S. federal agencies from engaging with certain Chinese biotech companies, has been labeled discriminatory by Chinese authorities and industry leaders.
On Tuesday, Chinese Foreign Ministry spokesperson Mao Ning voiced China's strong objections during a regular press briefing in Beijing. “The U.S. needs to abandon ideological bias, respect the principles of market economy and trade rules, stop advancing that bill, and stop suppressing Chinese companies under various pretexts,” Mao stated.
The Biosecure Act was passed by the U.S. House on Monday with an overwhelming vote of 306 to 81, surpassing the two-thirds majority required. The bill specifically targets Chinese biotech firms such as WuXi AppTec and BGI Group, citing national security concerns as the rationale for prohibiting federal agencies from doing business with them.
Supporters of the legislation argue that it is essential to protect the genetic information of the American population and to safeguard domestic pharmaceutical supply chains. However, critics contend that the inclusion of foreign companies in the bill lacks transparency and could undermine global biosecurity efforts.
Chinese biotech companies have responded swiftly to the bill’s passage. WuXi AppTec, a leading global pharmaceutical and biotech company, denied the allegations related to human genomics. In a statement, the company asserted that it “neither operates a human genomics business nor engages in the collection of human genomic data globally.” Following the legislative development, WuXi AppTec’s shares experienced a significant drop of over 10 percent on the Hong Kong Stock Exchange.
“We will track the legislation’s progress and engage in dialogue with all stakeholders,” WuXi AppTec affirmed.
MGI Tech Co, the life science and biotech arm of BGI Group, also expressed strong opposition to the “baseless legislation.” The company warned that the bill “is likely to jeopardize global biosecurity by slowing the sector’s progress, stifling innovation, and making it harder for global companies to benefit from and share important medical breakthroughs.”
BGI Group echoed these sentiments, stating, “We are disappointed that the U.S. legislative process is being used to pick winners and losers.”
The Biosecure Act must still pass the U.S. Senate before it can be presented to President Joe Biden for signing into law. The unfolding situation raises questions about the future of international cooperation in biotechnology and the broader implications for China-U.S. trade relations.
Reference(s):
Chinese companies, authorities oppose U.S. House passing Biosecure Act
cgtn.com
