Shanghai announced an action plan yesterday to increase its biological medicine industry to 400 billion yuan (US$58.36 billion) in 2020 from 300 billion yuan in 2017, with at least 50 new medicines and 100 new medical devices.

It also aims to become an R&D and manufacturing center, as well as outsourcing and service center for bio-medical products in the Asia-Pacific region, becoming a global hub of bio-medical innovation by 2025.

To achieve these goals, the government will focus on eco-friendly biological medical programs in Zhangjiang and Lingang in Pudong, as well as in Jinshan and Fengxian districts.

“We will enlarge Zhangjiang Pharma Valley,” said Cao Hongming, director of the department of biotech and pharmaceuticals with the city science and technology commission.

“We will also expand Oriental Beauty Valley in Fengxian from cosmetics to bio-medicine,” he added. “Fengxian and Lingang will host medical equipment manufacturing programs and Jinshan will have production bases for green bio-medical products and bulk drugs.”