Guangzhou Unveils Plan to Transform Biopharmaceutical Hub into Global Gateway
5 months, 1 week ago

Guangzhou Unveils Plan to Transform Biopharmaceutical Hub into Global Gateway

China Daily  

Guangzhou is investing heavily in building a global biopharmaceutical hub, with a focus on the Guangdong-Hong Kong-Macao Greater Bay Area and across the country. The city will establish a 150 billion yuan industrial investment fund to promote cooperation between major financial investment companies and local investment institutions, with a focus on investing in the biomedicine sector. The city will also accord priority to the development of four major industries — biopharmaceutical, medicine, traditional Chinese medicine and high-end medical apparatus and instruments. The city plans to accelerate the construction of industrial parks and zones for biopharmaceutical and related industries in the following months, with a focus on clinical research and development. The province is planning to boost annual revenue from its biopharmaceutical and health sector to more than 1 trillion yuan by 2027.

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