The Binhai New Area, in North China's Tianjin Municipality, projects that its biomedical industry will achieve an annual income of 100 billion yuan ($15.44 billion), by 2025.

Tens of billions of yuan's worth of well-designed industry clusters dedicated respectively to pharmaceuticals, biotechnology, medical devices, diagnostics and modern Chinese medicine, will be formed in the new area.

By 2025, Binhai will have been shaped into a highly innovative and internationally competitive drug development and drug manufacturing pilot zone, characterized by its comprehensive subdivisions and variety of complete medical products.

To achieve this goal, the industrial structure will be steadily optimized, forming industrial parks that will be dedicated to the research and production of cells, medical devices, vaccines and more. National key laboratories, leading enterprises and institutions will all be introduced to strengthen the industrial drive of the area.

At present, Binhai is already an important area for the biomedical industry in Tianjin, which in turn is recognized as a national base for the bio-industry, as well as for medical and health product exports, the modern development of traditional Chinese medicine, and stem cell research.

The biomedical industry is one of the four-star strategic emerging industries in Binhai. In 2020, the new area's biomedical industry output value sat at 40.25 billion yuan, accounting for 64.2 percent of the city's total biomedical output.

The biomedical industry of Binhai's Tianjin Economic and Tech Development Area (TEDA) is listed among the first batch of national strategic emerging industrial clusters.

Binhai has issued a comprehensive favorable-policy package concerning all innovative elements involved, including support to cultivate innovation-driven enterprises, facilitating turning scientific vision into products, protecting intellectual property, financial instruments, attracting qualified human resources and improving public services.The new area also plans to build a biomedical innovation and entrepreneurship alliance of 206 medical institutions across the city. It has undertaken activities to integrate the resources of industrial chains, technology, capital and talents across members.

The new area has gathered together more than 1,500 biomedical companies, which have made scientific achievements in key areas, such as vaccines, recombinant proteins, stem cells, and high-end medical devices. Smart technologies have gradually been applied to facilitate the upgrading and modernizing production. The area has also seen an increase in international cooperation and roles.