Signs of boom for biomedical industry in Xiamen

The coastal city of Xiamen, East China's Fujian province, will strengthen efforts to accelerate the development of its biomedical industry, according to news released at the 2020 Xiamen Biomedical Industry Innovation and Development Conference held on June 7.

Xiamen is one of the first cities in China to have a full industrial layout for biomedicine, with its sales revenue totaling 81 billion yuan ($11.45 billion) and its output value reaching 66.5 billion yuan in 2019. Xiamen's biomedical industry was selected as one of the first national strategic emerging industrial clusters.

"Xiamen is uniquely equipped to develop a biomedical industry," said Hu Changsheng, Party secretary of the city.

Xiamen Bio Bay in Haicang district ranks 13th in terms of comprehensive competitive strength among the country's biomedical industrial parks. It is now home to 297 national high-tech enterprises, according to Hu.

He also noted that the value of the biomedical industry in Xiamen is expected to exceed 150 billion yuan by 2025, and the city will strive to cultivate a number of major enterprises in the industry with independent intellectual property rights. More than 500 national high-tech firms are expected to set up operations in Xiamen, making it an innovative center for the biomedical industry and the country's life science and technology city.

Twenty-three supporting policies directed at the high-quality development of the biomedical industry were introduced at the conference.

In addition, 20 deals for biomedical projects costing a total of nearly 10 billion yuan were signed at the conference.