SIP gives top priority to the development of biomedical industry. SIP’s biomedical industry has maintained an annual growth of more than 20% for many years, and the total industrial output value exceeded RMB100 billion last year. For this achievement, SIP’s excellent business services play an important role.
BioBAY serves as the “main front” for the development of the biomedical industry in SIP. Compared with other industrial clusters of similar kind, it focuses more on attracting teams and startups engaged in high and new biological technology.
“Ten years ago, our investment promotion staff attended events all over the world to introduce BioBAY to potential partners. Now, BioBAY has built up a greater reputation worldwide, and there are more ways to attract projects and talent,” said Wang Jun, BioBAY’s investment promotion director.
BioBAY is now home to 17 listed companies, with a total market value of about RMB 1 trillion. It has developed an integrated financing service system to help enterprises in it acquire investment through diversified channels.