Significant breakthroughs of the modern biotechnology mainly come from universities and academic institutes. However, academic institutes lack enough funds, talents and experience which are indispensable to the products development and market expansion. Therefore, establishing close public-private partnerships is vital for development of biotechnology. This paper discusses the characters of public-private partnerships in commercialization of biotechnology in China, based on a case study of transgenic rice which has made outstanding progress in recent years. The policy recommendations for promoting partnerships of biotechnology in China are given finally.