- Welcome Mat
- What's Happening
- Rich in Culture
- Doing Business
- Living Here
Guidelines and millions in funding have been put forth by Jinwan District to consolidate its burgeoning bio-pharmaceutical industry into a fully localized powerhouse.
The district's newly passed Implementation Measures consist of 28 detailed rules and regulations covering financial grants for enterprises to obtain production licenses, enter global markets, qualify as inspection organizations, and more.
Although the bio-pharmaceutical industrial base -- one of the three largest in Guangdong -- is strong, the industrial chain structure needs to be strengthened, an official said. Among what's needed are scientific research institutes, high-end talents, financial capital for pharmaceutical innovative enterprises, new industrial policies, and better institutional mechanisms.
"Especially in terms of industrial policies, most of the past policies are only for large-scale enterprises," he said.
As a result of the measures, more than 100 biomedicine companies in Jinwan can expect to see a complete industrial chain develop to smooth operations, eliminate obstacles, and cut costs.
For instance, Jinwan enterprises with approved investigational applications for clinical trials of new Category 1 drugs and biological products will be subsidized 2 million yuan ($287,725). Companies with investigational applications approved for clinical trials of new Category 1 drugs will receive 1.5 million yuan ($215,790).
Moreover, an award of 10 million yuan ($1.4 million) will be made to companies that acquired approval for biological products and Category 1 chemical medicine. And, 5 million yuan ($719,310) will go to those approved for a number of Category 2 chemical medicines and Categories 2-6 biological products.
Health Port boosts pharmaceutical industry [Photo by Zhang Zhou / Zhuhai Daily]
Biomedical public technology services, such as clinical trial platforms identified by higher authorities or institutions, can receive 30 percent of equity funds to a maximum of 10 million yuan toward actual construction. Providers of science, technology, and logistics related to health medicine will also be incentivized to undertake R&D to shorten drug development and reduce risks.
Meanwhile, large-scale businesses will enjoy greater financial support than currently provided. Major bio-pharmaceutical projects contracted within the validity period and put into production within an agreed time will be subsidized with 10 percent of gross fixed-asset investment. The condition is that the investment amount should be no less than 50 million yuan ($7.2 million). The government will make up the balance if the enterprise makes additional fixed-asset investment. The total award to each enterprise should not exceed 100 million yuan ($14.5 million).
Jinwan produces 80 percent of Zhuhai's annual biomedicine output value. The industry is also the major pillar in Jinwan itself, accounting for nearly 33 percent of the total industrial output value of the region's above-designated industries and over 30 percent of its tax revenue. Jinwan's biomedicine industry has experienced growth of 20 percent in both output value and tax contribution over the past five years.
Zhuhai International Health Port, the core of Jinwan's emerging bio-medicine cluster, will be fully operational in the first half of 2019. At a cost of 1.8 billion yuan ($259 million), it occupies 16.7 hectares (41.2 acres) with floorage of 27.8 hectares (68.7 acres). It is a major reason 20 bio-med companies have arrived in Jinwan this year, bringing investment of 10 billion yuan and estimated annual yield of 15 billion yuan ($2.2 billion).