China Bio Today reports that The Development and Reform Commission of Shenzhen has completed the first draft of a plan to develop Shenzhen International Bio-Valley, a new biotech park. The goal is to attract world-class companies to the park and establish cooperative relationships between the new companies and local biopharmas in Shenzhen.
There are already 2000 relationships between Shenzhen pharmas and international entities. These will form a base for future growth.
Currently Shenzhen’s biotech industry has an annual sales income of around 100 billion RMB ($16.2 billion) and an added value of 20 billion RMB, according to Tang Jie, a vice mayor of Shenzhen. The city hopes that the new biotech park will contribute to a sales income of 200+ billion within 10 years from now.
A possible obstacle to achieve this enormous growth could be the recruitment of capable professionals and teams in Shenzhen to generate innovative enterprises. It will therefore be necessary to upgrade education in order to provide the kinds of talented workers that innovative companies need.