A bigger biomedicine industry network in shape after Shanghai initiative

Editor's Note:

Shanghai, a well-established destination for investment from home and abroad, is keen to ride the waves of economic revitalization to attract more quality investment with better policies and services.

Leading industry institutions, investment promotion agencies and financial organizations have become the first batch of investment promotion partners for Shanghai's biomedicine industry.

The latest initiative, which began on Tuesday, was designed to drive new momentum and enhance the influence of the city's biomedicine industry by joining the expertise of leading industry players and investment institutions, according to director Li Jia at the biomedicine department of the Shanghai Commission of Economy and Informatization.

Various resources and expertise are expected to be further leveraged under the new initiative to foster open innovation, he said.

The initiative also responds to a signal extended during the Shanghai Global Investment Promotion Conference in early April to further boost the pillar industry in the city.

Ti Gong

A total of 23 institutions including Roche, AstraZeneca, Fosun Pharma, Shanghai's stake-backed Shanghai Healthcare Capital, Hankang Capital, Haitong Securities, Huatai Securities were the first batch of institutions and businesses to join the initiative.

Last year, the value of Shanghai's biomedicine industry leaped 5.7 percent to 853.7 billion yuan (US$124 billion) and it is forecast to exceed 900 billion yuan in value this year.

The biomedicine industrial manufacturing output value is expected to reach 200 billion yuan this year.

The latest edition of the Shanghai Biomedical Industry investment Guide was also released on Tuesday, offering an inclusive introduction to the most important industry parks, major investment promotion initiatives and preferential policies at city and district level.