Country for PR: China
Contributor: PR Newswire Asia (China)
Wednesday, November 06 2019 - 13:04
Xinhua Silk Road: E China's Hangzhou beefs up efforts to forge world-class biomedical innovation city
BEIJING, Nov. 6, 2019 /PRNewswire-AsiaNet/ --

Hangzhou, capital of east China's Zhejiang Province, is endeavoring to build 
itself into a world-class biomedical innovation city like Boston.

Such clarified goal indicates the strong foundation and development potential 
of Hangzhou in the biomedical sector.

It is reported that currently, an industrial deployment with the Hangzhou 
medical port in Qiantang New District as the core and the Hangzhou High-Tech 
Zone and Yuhang District as focuses has been realized in the city.

The Hangzhou medical port in Qiantang New District will be built into a 
fastest-growing high-end biomedical product R&D cluster in the city. The 
Hangzhou High-Tech Zone will focus on the construction of the smart medical 
sector, while Yuhang District will focus on the development of the medical 
equipment sector.

Based on the industrial deployment, an industrial structure featuring the R&D 
of new drugs, medical devices and medical data has taken shape in the city, 
pushing up the continuous and fast growth of the biomedical industry in 

Data showed that a cluster of more than 1,000 biomedical enterprises has 
already formed in the city. Besides, 1,003 biomedical firms were newly set up 
in the city in 2018 with a registered capital of 8.569 billion yuan, up 39.11 
percent and 33.37 percent year on year, respectively.

As the city boasts obvious advantages in developing the biomedical industry, 
currently, 88 companies with annual output value above 20 million yuan has 
gathered in Hangzhou, including 20-odd listed companies. Seven of the global 
top ten pharmaceutical companies like Pfizer, Merck Sharp & Dohme and Abbott 
have already settled in the city.

Although Hangzhou is marching towards the upstream of the industrial chain, it 
is still lagged behind by Shanghai and Beijing in terms of the development of 
the biomedical industry.

According to an official from the Hangzhou Investment Promotion Bureau, with 
the uneven development of the biomedical industry, Hangzhou still needs to 
enhance its innovation capabilities and quicken the construction of industrial 
ecology and the implementation of related projects.

The development of important industrial platforms such as the Yangtze River 
Delta G60 sci-tech innovation corridor biomedical industry alliance, as well as 
the integrated development of the Yangtze River Delta, will all bring 
opportunities for the development of Hangzhou's biomedical industry. 

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SOURCE:Xinhua Silk Road Information Service