Shanghai releases measures to boost biomedical industry

Shanghai has released 32 measures to boost the development of its biomedical industry, which has been listed as a strategic emerging industry as part of the municipality's efforts to become a global city of excellence by 2035.

The measures, released by the municipal government in a document on Wednesday, listed the city's goal to raise the number of its clinical trial institutions to 80 and gather at least 20 research and development centers in biomedical innovation with international influence.

The document also includes ambitions to have more than 30 locally-developed new drugs and medical device products with core technological advantages registered each year.

"With the China (Shanghai) Pilot Free Trade Zone and the goal of building the city into a technological innovation center with global influence, Shanghai will promote its quality of pharmaceutical and medical device products by comparing with the highest standards internationally," reads the document.

For the purpose, the city will strive to readjust the supply system of drugs and medical devices and establish a regulation system to allow the public better access to new, advanced and affordable medical treatments, it continued.

One of the measures intended to build the city into a world-leader of innovative research and development in biomedicine is to encourage the increase of R&D investment.