Zhejiang Orient Gene Biotech signs an investment cooperation agreement with Hainan Boao Lecheng International Medical Tourism Pilot Zone on Aug 20.

Zhejiang Orient Gene Biotech signed an investment cooperation agreement with Hainan Boao Lecheng International Medical Tourism Pilot Zone on Aug 20 to invest more than 100 million yuan ($15.44 million) in Lecheng.

A total of 52 projects, including Orient Gene's in Lecheng, were signed collectively as the Hainan Free Trade Port's fourth-batch key projects with their total contracted investment reaching around 24 billion yuan. 

Established in 2005, Orient Gene, which specializes in the R&D, production and sales of in vitro diagnostic products, went public at the growth enterprise market at the Shanghai Stock Exchange.

The company and Lecheng will devote joint efforts in biological product testing and cast eyes on the research, development, transformation and application of innovative products used for in vitro diagnosis, striving to add new drivers in Lecheng's high-quality development. 

"The preferential policies of the Hainan FTP and Lecheng are the main factor that attracts us to settle down here as well as the local laws, and international and convenient business environment," said Fang Xiaoliang, general manager of Orient Gene.

Liu Zhefeng, deputy head of the Boao Lecheng International Medical Tourism Pilot Zone Administration, said that the excellent business environment is vital to Lecheng's high-quality development and the project of Orient Gene in Lecheng will help promote the upgrading of Lecheng's industrial structure.

Liu added that Lecheng will further optimize the local business environment and services to attract more high-quality medical resources from both home and abroad, striving to become a world-level platform for medical technology innovation.