Hohhot takes 10 measures to support development of biomedical sector
Hohhot, capital city of North China's Inner Mongolia autonomous region, recently released the 10 Measures to Support High-Quality Development of Biomedical Industry, providing targeted support for the development of the biomedical industry and enterprises.
In recent years, Hohhot has focused on the high-quality development of the biomedical field, striving to create a group of distinctive biomedical enterprises. They have actively promoted the upgrading of biological vaccines, the extension of raw material pharmaceutical companies to finished products and preparations and supported the development and growth of traditional Chinese medicine (Mongolian medicine). They aim to build a comprehensive modern biomedical industry system.
The Measures consist of five sections and 10 articles, focusing on the development needs of the three major industrial chains: bio-fermentation and pharmaceuticals, biological vaccines, and traditional Chinese medicine (Mongolian medicine).
In supporting the innovative development of the biological vaccine industry, the Measures will support the innovation, transformation, and improvement of new vaccine research and development and strengthen the innovative capabilities of the entire industry chain.
In supporting industrial-scale development and clustering, the Measures will introduce and cultivate leading enterprises to promote industry agglomeration and scale development.
The Measures will strengthen financial support and talent guarantee in supporting the development driven by industrial elements. They will establish a 5-billion-yuan ($689 million) fund for industrial development and a 1-billion-yuan fund for scientific and technological innovation, providing financial resources and talent guarantee for industry development.