Guangzhou's bio-industry enterprises joined hands on Aug 8, to create an alliance in order further the city's IAB strategy.

The IAB strategy is aimed at fostering the new generation of information technology, artificial intelligence and biological medicine.

The 120-member Guangzhou Bio-Industry Alliance features industry leaders Xiangxue Pharmaceutical, Guangzhou Saliai Stem Cell Science and Technology, and DaAn Gene, and includes 85 enterprises, six research institutions and 14 hospitals.

Wang Yonghui, president of the alliance, said it had so far attracted 100 billion yuan ($15 billion) in investment from members such as China Minsheng Investment and China Science & Merchants Investment Management Group.

Wang added that the alliance will guide and integrate the innovation resources in enterprises, research institutions, universities, medical institutions and investment companies and strive to build the Guangzhou International Bio-Forum into the "Davos" for the world bio-medicine industry.

Ye Niuping, vice mayor of Guangzhou, said the alliance will play a significant role in integrating scientific and technological resources, improving public services, facilitating the industrialization of research achievements and enhancing the competitiveness of Guangzhou's bio-medicine industry.

At the launch, the alliance also announced strategic cooperation with Guangzhou Development District (GDD). The two parties will work together in areas such as commercialization of bio-medicine technologies and international cooperation.

A range of projects focusing on biotechnology, gene sequencing, gene decoding, stem cell treatment, tumor immunotherapy will settle in GDD. The total investment of the projects is estimated to be five billion yuan. GDD will provide preferential policies, special services and land resources for the projects.

As a city with a highly-concentrated pharmaceutical and health industry and medical resources, Guangzhou is striving to promote its IAB initiative which aims at developing emerging industries such as the new generation of information technology, artificial intelligence and biological medicine.

According to the Guangzhou's five-year plan on bio-medicine industry development, the scale for its bio-industry will reach 500 billion yuan, accounting for 4 percent of the city's GDP.