Government News
Pudong unveils plan to boost biomedical innovation 2025-07-29
Shanghai's Pudong New Area has released a plan to upgrade its biomedical industrial parks, as part of efforts to boost innovation and enhance the region's role in the global health sector.
For the first time, Pudong has set out a vision to become a global launchpad for innovative drugs and medical devices, a preferred destination for scientist-led startups, and a pioneer in institutional reform.
The plan projects that the area's biomedical industry will surpass 500 billion yuan (about 70 billion U.S. dollars) by 2027.
In recent years, Pudong has accelerated its development of a world-class biomedical industrial cluster. The sector's output in the area surged from 240.8 billion yuan in 2020 to 410 billion yuan in 2024 -- a compound annual growth rate of 14 percent.
Pudong's pipeline of innovative drugs accounts for about one-fifth of the national total and around 6 percent of the global total.
To position itself as a hub for first-launch biomedical innovations, Pudong will roll out a special initiative aimed at creating innovation clusters. The plan includes attracting top-tier research institutions, multinational R&D centers, corporate innovation centers and high-quality incubators. The district aims to support the formation of more than 100 new biotech startups each year.
To boost the industry's capacity further, Pudong also plans to build an additional 1 million square meters of standardized factory space and renovate another 1 million square meters of existing facilities over the next three years.
Source: Xinhua
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