Shanghai's Pudong revs up biomedical industry-Xinhua

Shanghai's Pudong revs up biomedical industry

Source: Xinhua

Editor: huaxia

2022-02-02 20:42:01

SHANGHAI, Feb. 2 (Xinhua) -- Shanghai's Pudong New Area will boost the growth of its biomedical industry from 2022 to 2024 in support of China's continued efforts toward high-quality development.

The scale of the biomedical industry in Pudong is expected to hit 400 billion yuan (about 63 billion U.S. dollars) by 2024, and the output value of biomedical manufacturing will reach 100 billion yuan, according to a recently released action plan.

Pudong will strive to make these sectors including small-molecule drugs, cell therapy, antibody drugs, minimally invasive intervention and surgical robots on par with the advanced international standards, according to the action plan.

Shanghai boasts a relatively mature biopharmaceutical production chain compared to other Chinese cities. Integrated circuits, biomedicine, and artificial intelligence have become new growth engines driving the city's economy. In 2021, the manufacturing output of these three key industries increased by 18.3 percent.

Since being designated a new area in 1990, Pudong has become a popular destination for investors, innovators and policy pilots.