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Biomedicine industry ambition
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Hangzhou aims to become a leading biomedicine industry city with global influence in China in 2022. By then, the main business income of the biomedicine industry should reach more than 100 billion yuan (US$15.63 billion). Hangzhou Economic and Technological Development Zone and three other industrial parks in Yuhang, Binjiang and Dajiangdong will serve as the core areas for the biomedicine sector.
In 2017, the output of medicine industry reached 50.79 billion yuan, rising 22.9 percent over 2016. It was the second largest pillar industry in Hangzhou after the IT industry.
Construction of Hangzhou Medicine Port Town kicked off in Xiasha area in the east of the city. With a planned area of 3.4 square kilometers, there are plans to invest more than 10 billion yuan in research and development by 2020 and attract 200 leading experts.
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