Guangzhou International Biotech Island (GIBI), in Guangzhou city's Huangpu district, aims to become one of the world's top biomedical research and development centers, according to an announcement made at the CPC Huangpu district congress earlier this year.
To join the world's first-rate biomedical research and development areas the GIBI continues to develop through wide and in-depth international cooperation.
It has collaborated with the Guangdong-Hong Kong-Macao Greater Bay Area in setting up a life science cooperation zone, and also established closer cooperation with Israel in industrial development.
It is noted that Israel has invested 148 million yuan($22 million) in the biotech island and plans to build a bio-industry incubation base of about 30,000 square meters. At present, eight companies have registered at the base.
The two sides also established a 600-million-yuan bio-industry investment fund, introducing high-end Israeli biotechnology through fund investment. The fund has invested in four Israeli innovation projects in orthopedics, ophthalmology, smart medicine, and medical aesthetics, with a total investment of more than 150 million yuan.
The island, known as the "CBD of Guangzhou's biotechnology industry", was approved for establishment by the National Development and Reform Commission of China in 2000, and in 2011, it opened and welcomed its first group of enterprises.
According to the five-year action plan for Guangzhou's biomedical industry development (2017-21), Guangzhou will strive to achieve 130 billion yuan in the output value of the biomedical industry by the end of 2019. By 2020, the city's biological industry is expected to reach 400 billion yuan, of which the output value of biomedical manufacturing will account for80 billion yuan.