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Business
Shanghai to develop worth USD 58.2 bln bio-medicine industry
CKN
2018/12/07 07:18:53
1,328
China's News, China's Financial News, Shanghai

Dec 07, 2018 (China Knowledge) - Shanghai municipal government has unveiled a three-year program for the development of city’s bio-medicine industry. Authorities have been putting efforts for quite some time to make convert the city’s into biomedical innovation hub. The plan includes the development of high-tech manufacturing parks among other measures.

According to the action plan, after the development of the bio-medicine industry in Shanghai, the is expected to generate USD 58.2 billion. Currently, the industry in Shanghai is seeing an increase of 5.8% year-on-year, with output reaching more than USD 44.2 bln in 2017.

The new manufacturing parks are slated to be built in Jinshan and Fengxiang districts and the Lingang Area of Shanghai, where the existing parks are based. These new parks will focus on the development of medical devices, beauty, and biopharmaceuticals.

Cao Hongming, director of the bio-medicine division of Shanghai Municipal Science and Technology Commission, has also mentioned about the coordination and integration of the new parks with the Zhangjiang Pharma Valley, a state-level bio-medicine industrial base.

The Zhangjiang Pharma Valley was established by the government in 1994, and has since attracted more than 40 research centers to operate in the industrial base. 145 new drugs have been developed some of them are in pre-clinical trials while other are waiting for approval from authorities to begin mass production.

 

 

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