Biomedical industry surges in Xiamen

Thirty-one biomedical projects valued at more than 10 billion yuan ($1.53 billion) were signed into effect at the Xiamen Collaborative Innovation and Entrepreneurship Center for the Biomedical Industry in Haicang district, Xiamen in East China's Fujian province, at a signing ceremony held in the district on Dec 17.

Local authorities said that the projects demonstrate the strength of Haicang's biomedical industry. Additionally, several small and medium-sized start-ups have set up operations in Haicang this year, which will foster new momentum for the development of the district's biomedical industry.

The projects mainly focus on fields such as the research and development (R&D) of innovative medicine, the R&D of medical apparatus and instruments, medical examinations, and pharmaceutical logistics, all of which are expected to generate annual sales of more than 24 billion yuan after being put into operations.

The Xiamen Collaborative Innovation and Entrepreneurship Center for the Biomedical Industry, which was launched on the same day, will provide companies at the center with comprehensive services, including incubation, transformation, R&D, manufacturing, talent recruitment and training, logistics and storage.

The biomedical industry in Xiamen has witnessed strong growth over the years and has become one of the city's strategic emerging industrial clusters. In Sept 2019, Xiamen's biomedical industry was included in the first group of national-level strategic emerging industries.

In recent years, Haicang has been making strong efforts to develop its biomedical industry. Despite the COVID-19 outbreak early this year, the district's biomedical industry is expected to generate more than 30 billion yuan in sales revenue this year, a year-on-year growth of more than 30 percent.