The added value of Shenzhen's biomedical industry reached 13 billion yuan (US$1.82 billion) in the first half of this year (H1), up 10.6% over the same period last year, according to the 2024 Shenzhen Biological Industry Investment and Promotion Conference on Tuesday.

Hosted in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, the conference attracted over 150 participants, including representatives from enterprises, investment institutions, and research institutes, as well as experts from the biomedicine industry.

“Being a young Shenzhener, I would like to welcome all of you to our city,” said Yan Ning, founding president of the Shenzhen Medical Academy of Research and Translation and director of the Shenzhen Bay Laboratory. Yan relocated to Shenzhen in 2020. She invited global scientists to innovate and start companies in the city.

At the conference, 20 domestic biomedical enterprises signed agreements with several of the city's government departments to establish operations in Shenzhen.

From 2014 to 2023, the output value of Shenzhen's biomedical manufacturing industry grew from 20.3 billion yuan to 53 billion yuan, with a compound annual growth rate of 11.3%.

Shenzhen is home to 131 biomedical enterprises above the designate size (industrial enterprises with annual operating revenue of 20 million yuan or more) and 13 listed biomedical companies.