Waigaoqiao Group and the Hong Kong Biotechnology Organization signed a strategic cooperation agreement at the recent BIOHK2025, marking a concrete step forward in collaboration between Shanghai and Hong Kong in the biomedicine sector.
The partnership aims to address two core needs: transforming scientific research achievements into practical applications and facilitating cross-border resource alignment. By strengthening regular exchanges and leveraging complementary advantages, the collaboration seeks to enhance industrial synergy between Shanghai and Hong Kong in biomedicine.
As a leading biotech event in Asia, BIOHK2025 attracted over 10,000 professional attendees, more than 200 industry experts, and international exhibitors. Waigaoqiao Group’s biomedicine subsidiary participated as a specialized service platform representing the Free Trade Zone’s bonded area, showcasing the core strengths of Shanghai’s biomedicine industry.
In 2024, the bonded area’s biomedicine industry reached a scale of 343.5 billion yuan (US$48.31 billion), a year-on-year increase of 1.7 percent, accounting for about one-third of Shanghai’s total. Within this, medical instruments and device imports totaled 39.5 billion yuan, representing 44.4 percent of China’s total imports in this category. Imports of medicinal materials and pharmaceuticals reached 98.1 billion yuan, accounting for 26.7 percent of the national total.
The area is now home to over 800 biomedicine enterprises, forming a comprehensive industrial ecosystem that spans R&D, testing, production, storage, trade, and medical services. This ecosystem serves as a critical foundation for Shanghai’s ambition to build a world-class biomedicine cluster.
During the exhibition, Waigaoqiao’s biomedicine company highlighted the advantages of bonded area policies and the distinctive features of its industrial cluster. It also engaged in in-depth discussions with more than ten domestic and international biomedicine companies, focusing on key areas such as cell and gene therapy and high-end medical devices.
