Construction of new biomedical industrial park begins

Construction of MEDIPARK, a biomedical industrial park in Shanghai Baoshan district's Luodian town, started on Dec 9 and is expected to be completed by September 2022.

The park is part of Shanghai's ambitions to create a 100-billion-yuan ($15.3 billion) biomedical industry cluster.

MEDIPARK, which represents an investment of 1.8 billion yuan, will span about 200 mu (13.3 hectares). It is expected to achieve a tax revenue of more than 100 million and an output value of more than 1 billion yuan annually.

About 100 biomedical enterprises are expected to settle in MEDIPARK and provide employment for more than 1,000 people. The park will also become a new benchmark of the biomedical industrial park in Shanghai, and a new highland of a biomedical industry cluster in the Yangtze River Delta.

To date, several key enterprises in the biomedical field including Gingze Biotech, Merck, and Laekna Therapeutics, have indicated their intention to cooperate with the park.

The North Shanghai biomedical industrial park, where MEDIPARK is located, is the closest biomedical manufacturing area to the city center and is also the key to developing the biomedical industry in the Yangtze River Delta.