Binhai New Area to spearhead China's medical industry development

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chinadaily.com.cn

Nov 30, 2021, 22:20 ET

TIANJIN, China, Nov. 30, 2021 /PRNewswire/ -- Here's a news report from chinadaily.com.cn:

By 2025, the Binhai New Area in North China's Tianjin municipality will cultivate industry clusters worth tens of billions of yuan that are dedicated to pharmaceuticals, biotech, medical devices, diagnostics and modern Chinese medicine.

An aerial photo of the CBD of the Tianjin Pilot Free Trade Zone, Binhai New Area, Tianjin.

It will be shaped into a highly innovative and internationally competitive drug development and manufacturing piloting zone, characterized by its comprehensive subdivisions and variety of complete medical products.

The annual business revenues of the biomedical industry in Binhai are expected to reach 100 billion yuan ($15.44 billion) by 2025.

These ambitious targets will be made possible with the sound industrial base and bright development prospects of Binhai.

At present, Binhai is already an important area for the biomedical industry in Tianjin, which in turn is recognized as a national base for bio-industry, medical and health product exports, the modern development of traditional Chinese medicine, and stem cell research.

The biomedical industry is one of strategic emerging industries in Binhai. In 2020, the district's biomedical industry output value stood at 40.25 billion yuan, accounting for 64.2 percent of the city's total biomedical output.

It has gathered more than 1,500 leading biomedical companies, including Novo Nordisk, the world's largest producer of insulin, and the Tianjin International Joint Academy of Biomedicine, which introduces global high-end talents to boost research.

They have made scientific achievements in key areas, such as recombinant proteins, stem cells, and high-end medical devices. Smart technology application has gradually been expanded to facilitate the upgrading and modernization of production and manufacturing.

With 153 km of coastline on the eastern coast of Tianjin and home to Tianjin Port, a major northern China port, Binhai is an important area for the development of both the Bohai Economic Rim and Beijing-Tianjin-Hebei region. It is also an eastern starting point of the Eurasian Continental Bridge.

The area is a national pilot area for experimental reform measures and the first free trade zone in North China.

Binhai has issued comprehensive favorable policy packages concerning all innovative elements involved, including financial instruments and support to cultivate innovation-driven enterprises, facilitate turning scientific vision into products, protect intellectual property, attract qualified human resources and improve public services.

The area has also built a biomedical innovation and entrepreneurship alliance comprising 206 medical institutions across the city. It has carried out activities to integrate industrial chains, technology, capital and talents across its alliance members.

The industrial structure will be steadily optimized to achieve the area's goal of forming industrial parks that will be dedicated to the research and production of cells, medical devices and more. National key laboratories, leading enterprises and institutions will be introduced to strengthen the industrial drive of the area.

The area has also seen an increase in international cooperation and roles. Binhai is now attracting more international talents to further boost its biomedical industry.

SOURCE chinadaily.com.cn