China's stem cell industry is expected to grow rapidly in the years ahead, as more preferential policies will be issued to support its development, insiders said.

"The stem cell industry will be greatly supported by the government's policies as the country has already seen a boom in scientific research in the industry," said Chen Haijia, founder and chairman of the Guangzhou Saliai Stem Cell Science and Technology Co.

China currently has about 100 companies engaged in stem cell research and development. Its sales revenue will reach 30 billion yuan ($4.88 billion) in 2015, according to the Guangzhou-based company.

"But China still lags behind in the downstream chain development of the stem cell industry due to lack of government's preferential policies to support the industrial development in the past," Chen said.

Globally, the market value of the stem cell industry exceeded $40 billion in 2013, with North America and western Europe becoming the most competitive markets in the industry.

"China's stem cell industry is being greatly challenged by their overseas counterparts as there are not many stem cell products available in the domestic market," Chen said.

The Guangzhou-based company recently became China's first stem cell company being listed in the new third board market.

"Being a new?third board-listed company will help us to benefit more from the expecting policies, which are very helpful to drive a healthy industrial development," Chen said.

The company has invested more than 100 million yuan to collaborate with a local university to develop an anti-aging and health research laboratory, aiming to build a stem cell data base in South China.

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