New investments strengthen Wuzhong medical industry

Biomedicine and pharmaceutical firms reached agreements on 22 new projects with the Wuzhong Economic and Technological Development Zone in Suzhou City, involving a total investment of 21 billion yuan (US$3 billion), at an economic promotion fair on Friday.

The investment projects focus on the industrialization of cardiovascular interventional medical devices, research and development and industrialization of innovative small molecule drugs, research on blood purification, and precise immunodiagnosis and tumor treatment, among other areas.

Wuzhong Biomedicine Industrial Park Investment Co also reached agreements with 10 banks to achieve strategic cooperation in investment and loan linkage, with a total credit amount of 20 billion yuan, offering one-stop financial services for enterprises.

During the event, a map illustrating the enterprises in the biomedical industry in Wuzhong was also released.

Chen Rong, Party secretary of Wuzhong District, expressed her vision of working hand-in-hand and establishing win-win cooperation with enterprises in the biomedicine industry.

In the core area of Wuzhong District, the Wuzhong Economic and Technological Development Zone is a national economic and technological development zone with 27 years of history.

The zone covers 150 square kilometers and has gathered more than 10,000 enterprises. In 2019, it achieved 46.07 billion yuan worth of gross domestic product, accounting for half of the total amount in Wuzhong. Among the zone's pillar industries, biomedicine has the largest potential.

The Suzhou Wuzhong Biomedicine Industrial Park is one of the nine biomedicine industrial parks in Suzhou, with a planning area of 1.9 square kilometers.

In the newest round of development, the industrial park gives full play to the important role of supporting institutions such as the preclinical safety assessment center of Wuxi AppTec and Suzhou Institute for Food and Drug Control.

Ti Gong