Chongqing - “Life Technologies City” projects regarding the city’s next course of industrial development have been unveiled at the ceremony held in southwestern China's Chongqing Municipality on April 25. 

Sixteen projects were signed at the ceremony at Yuelai International Conference Center in Liangjiang New Area, covering China’s hospitals, medical technology companies, and pharmaceutical companies, with a total investment of reaching 17.82 billion yuan.

The Liangjiang Life Technologies City project is to develop the local medical industry in three fields – medical equipment, biological products, and chemical agents, aiming to cultivate a new growth point and upgrade the city’s industry. According to the plan, the project is to develop the life science industry as the third pillar industry of Liangjiang New Area. The first and second largest industries in Liangjiang are the automobile and electronic industries, also the pillar industries of Chongqing.

Zhou Xiaohong, Chairman of  Dadi Industry, told the press that it built a biomedical industrial park at Shuitu, Chongqing Liangjiang New Area, which has already gathered 150 high-tech medical enterprises. “We plan to introduce more leaders of the biomedical field. We will help Chongqing to build a strong and globally renowned life and health industry,” he said.

The special policy supporting the development of the local life and health industry was also issued at the ceremony. The policy aims to subsidize pharmaceutical R&D with the highest award of 54 million yuan, the new service platforms establishment with the highest support of 80 million yuan, and top-tier research teams with the highest funding of 100 million yuan.

Chen Runsheng, an Academician of the Chinese Academy of Science, joined the signing ceremony with his new drug program. “Nucleic acid vaccine and nucleic acid drugs are the cutting-edged fields of the global pharmacy, which also is our key project implemented in Chongqing Liangjiang that we hope to make great achievements,” he said.

By 2025, the economic sector of life health in Liangjiang is estimated to reach about 50 billion yuan, with 20 billion yuan of industrial output, 25.5 billion yuan of pharmaceutical trade and circulation revenue, and 4.5 billion yuan of R&D service revenue. Up to 2035, Chongqing Liangjiang New Area expects to gather over 100 medical enterprises and over 1,000 medical equipment enterprises, making itself a significant base for China’s medical industry.