Chongqing - Chongqing Xishan Science & Technology Co., Ltd., an industry leader in surgical power devices, debuted on the Sci-Tech Innovation Board Market of the Shanghai Stock Exchange. 

This move marks it as the second Chongqing-based enterprise to be listed on the market, following SWS Hemodialysis Care Co., Ltd. Both enterprises are established in Chongqing’s Liangjiang New Area, accentuating the area’s dynamism and potency in the life and health industry.

Chongqing Xishan Science & Technology Co., Ltd. was listed on the Sci-Tech Innovation Board Market Market of the Shanghai Stock Exchange this June. (Photo/Xishan)

A thriving hub for the life and health industry

As of 2022, the life and health industry in the Liangjiang New Area amassed a scale of 13.51 billion yuan (about 1.86 billion U.S. dollars), signifying an 18.5% year-on-year rise. With 241 companies making active strides in this industry, the area hosts a rich blend of innovative medical equipment firms, contributing to two-thirds of Chongqing’s total.

In response to the vital interplay among the life and health industry, public health, and technological innovation, Liangjiang New Area launched an action plan in 2022. This strategy outlines the construction of three industrial parks, namely Liangjiang Life Technology City, Mt. Zhaomu Digital Medical Industrial Park, and Mingyue Lake Life Technology Innovation Park.

Furthermore, the plan targets cultivating three industrial clusters, including medical equipment, biological products, chemical agents, and three burgeoning sectors: new traditional Chinese medicine, novel services, and fresh medical treatments. This comprehensive approach aims to establish Liangjiang New Area as a vibrant hub for the life and health industry.

The presence of leading enterprises, such as Chongqing Xishan Science & Technology Co., Ltd., established in 1999, contributes significantly to the industry’s growth. The company has sold its surgical power devices to over 3,000 hospitals, effectively disrupting the technological and market hegemony of foreign brands in this field.

In the words of a Liangjiang New Area Life and Health Industry Chain Office representative, the area has fully supported local businesses like Xishan while attracting major Chinese corporations such as Sinopharm Group and Fosun Pharma. In 2022, the area undertook 13 projects valued collectively at 13.56 billion yuan (about 1.87 billion U.S. dollars).

The Innovation research institute of China Pharmaceutical University is located in Chongqing’s Liangjiang New Area. (Photo/Liangjiang Collaborative Innovation Zone)

Collaborative partnerships with prestigious institutions

Liangjiang New Area in Chongqing has actively fostered research and innovation by establishing collaborative partnerships with prestigious institutions.

One such partnership led to the creation of the innovation research institute of China Pharmaceutical University. The institute, which Liangjiang New Area and the university jointly constructed, was inaugurated in March of this year. Dean Sun Hongbin introduced the institute as committed to research and the industrialization of innovative medicine and high-end preparations.

In addition to this, Dean Sun shared that the area has successfully attracted other research institutes, including Tianjin Medical University. This has resulted in an impressive total of 50 institutes, creating a scientific ecosystem encouraging comprehensive research and innovation in the region.

Moreover, professional service platforms are integral to the region and are vital in reducing research and development cycles. An example of this is Porton Pharma Solutions Ltd., a renowned pharmaceutical contract development and manufacturing organization. It operates an intelligent preparation outsourcing base in Liangjiang New Area, offering a one-stop solution for services that include laboratory research, commercial production, as well as registration and declaration processes.

Further supporting the service chain, Liangjiang New Area has implemented professional test and inspection centers and incentive policies to foster the industry's growth.

As outlined by Pi Tao, Vice Director of the Liangjiang New Area Administrative Committee, the area is focused on driving advancements in various fields such as biological medicine, medical equipment, chemical agents, and modern Chinese traditional medicine. Liangjiang New Area is committed to nurturing the growth of biological manufacturing and the emerging service industry, aiming to establish itself as a leading hub for life and health in China.