Wuxi introduces policies of biomedical industrial park

Wuxi, East China's Jiangsu province, released several policies and measures on March 11 for promoting the high-quality development of biomedical industrial parks in the city.

According to the document, in the next three years, the city will approve 5,000 mu (333.33 hectares) of industrial land for biomedical industrial parks, build over 1 million square meters of scientific research industry carriers, and develop 10 biomedical industrial characteristic functional parks, five major innovation platforms, and more than 2,000 biomedical enterprises. The industry scale is expected to exceed 200 billion yuan ($31.52 billion).

Wuxi has already built four professional biomedical industrial parks - Wuxi International Life Science Innovation Park, Wuxi Mashan National Life Science Park, Wuxi (Huishan) Life Science and Technology Industrial Park, and Jiangyin Modern Traditional Chinese Medicine and Biomedical Industrial Park. The city is home to 1,277 biomedical enterprises, including Wuxi AppTec, Wuxi Biologics, and AstraZeneca. In 2021, the industry scale exceeded 140.9 billion yuan.

In order to attract more high-end talent to the biomedical sector, the document also includes several reward policies for talent that makes significant contributions.

An award of up to 2 million yuan per person per year will be given to overseas (including Hong Kong, Macao and Taiwan) high-end biomedical talent and in-demand talent working in Wuxi who have worked continuously for at least one year, have an annual salary of at least 500,000 yuan, and pay personal income tax in Wuxi according to law. The amount will be equal to 5 to 20 percent of their annual salary.