Lin-gang Special Area upgrades its biomedical industry supporting policies

Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone announced new measures on Sept 13 to promote the development of biomedicine, one of the key industries in the area.

The new measures - entitled Measures for the concentrated development of the biomedical industry in Lin-gang Special Area - will take effect on Sept 13 and remain valid until Aug 31, 2023. The old measures issued by the Lin-gang Special Area Administration on Oct 22, 2019 were repealed simultaneously.

According to the new measures, Lin-gang Special Area will provide a maximum subsidy of 300 million yuan (about $44.2 million) for core technology and product development associated with better meeting clinical needs. Subsidies for industrial projects that play a leading role in the overall development of the biomedical industry will be capped at 500 million yuan.

The new measures focus on the research and development (R&D) of core technologies and products within the biomedical industry, including high-end medical imaging, advanced therapeutic equipment, medical biomaterials, medical diagnostic reagents and test devices, new medical technologies and equipment, new biotechnology and related drugs, "five new" chemical drugs, and biological therapy technologies.

For more details, please refer to the authoritative Chinese version of the measures.