Home > Investment and Entrepreneurship> Industries

Guangzhou advances biopharmaceutical industry with new policy measures

Updated : 2024-01-11

Recently, Guangzhou passed several policy measures to promote high-quality development of the biopharmaceutical industry.

In these measures, the Huangpu district of Guangzhou is mentioned multiple times as a key area for the city's biopharmaceutical industry development. The measures focus on innovation, aggregation, ecological development, and internationalization, proposing 28 specific actions.

A special emphasis is placed on constructing a high-end biopharmaceutical industrial spatial layout centered around Guangzhou International Bio Island, with Nansha Science City and Guangzhou Knowledge City as the south and north poles.

The measures support major innovations, offering up to 5 billion yuan ($750 million) for global top-tier projects. Additionally, they fund research and development in innovative medicines and medical devices and encourage government-led funds to "invest early, small, and in innovation" within the biopharmaceutical field.

As an essential pioneer area for the biopharmaceutical industry, Huangpu has gathered over 4,000 biopharmaceutical enterprises, with a revenue scale exceeding 200 billion yuan ($30 billion). The district has formed a complete industrial ecosystem.

Through these innovative measures, Guangzhou is rapidly building a world-class biopharmaceutical industry cluster, propelling the city's development to new heights.

Copyright © Guangzhou Development District People's Government.
All rights reserved. Presented by China Daily