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Tianjin Binhai New Area to spearhead China's medical industry development
Published on: 2021-12-02
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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.

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.

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.

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