Proposal to develop city's biopharma industry
The Revolutionary Committee of the Chinese Kuomintang (RCCK), one of China's non-communist parties, has submitted a proposal to the CPPCC Shanghai Committee to suggest the city better leverage its prime location in the Yangtze River Delta region to seek integrated development of the biopharmaceutical industry.
Shanghai should prioritize the medical device and biopharmaceutical industry, and set up new mechanisms to accelerate the transition from research to clinical studies.
Chemical drugs still account for a large share of Shanghai's overall pharmaceutical industry. Biopharma has higher profitability, yet limited space in the city's pharma industry zones has hindered industry growth.
Zhu Yun, a member of the CPPCC Shanghai Committee, also suggested specific guidance from the city government to promote biopharma in designated industry zones.
Shanghai should actively embrace collaboration with other cities and regions within the delta region to boost partnerships, according to the proposal.
For example, new mechanisms to allow local companies to outsource research and manufacturing to companies in neighbouring cities would boost industry development.
The city should also include more venture capital firms and contract research organizations to allow startups to focus more on research.