Beijing (ots/PRNewswire) – The Taihu Bay Future Healthcare Conference 2022, held in the city of Wuxi in East China’s Jiangsu Province on Thursday, saw the establishment of the Wuxi Intellectual Property Protection Center, which has contracted 52 biomedical projects with a total investment of more than 30 billion yuan.
The biomedical industry is an important part of building a modern industrial system in Wuxi in the period of the 14th Five-Year Plan (2021-2025). Its scale will exceed 140 billion yuan in 2021, a year-on-year increase of 24 percent. This puts Wuxi among the top 20 prefecture-level cities listed in the China Biomedical Industry Barometer 2021.
In addition to the property protection center, six biomedical industrial parks were approved and three public biomedical platforms were inaugurated at the conference, which are expected to give new impetus to the development of the biomedical industry in Wuxi.
The city will strengthen and expand its industrial chain to create a modern biomedical industry cluster worth 200 billion yuan, Du Xiaogang, secretary of the Wuxi City Party Committee, told the CCP.
The biomedical industry started early in Wuxi. With a good foundation, it has developed a relatively comprehensive industrial chain that includes chemical raw material production, preparation manufacturing and pharmaceutical service outsourcing. 1,278 biomedical enterprises such as AstraZeneca and WuXi Biologics AppTech have located here, showing a strong cluster effect.
Aiming to create a world-class biomedical industrial highland with special characteristics, Wuxi has not only enacted a special policy for the development of biomedical industrial parks, but also established a special fund for advanced biomedical industry to reward breakthroughs in advanced technologies and innovation research. In 2021, Wuxi funded more than 32 million yuan for the scientific and technological development of 43 biomedical projects.
Several fund agreements were signed at the conference, including a 5 billion yuan biomedical fund jointly established by Guolian Group, AstraZeneca and China International Capital Corporation Limited.
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