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The Shenzhen government is planning to build a new national biopharmaceutical park in the Shenzhen Grand Industrial Zone.
The city government in Shenzhen in southern China's Guangdong province is planning to build a 2.92-mile2 national biopharmaceutical park in the Shenzhen Grand Industrial Zone.
The center will be designed for biopharmaceutical research and development and will house businesses in the biomedical engineering, marine biotechnology, biopharmaceuticals, modern Traditional Chinese Medicines, and chemical drugs industries.
The RMB 7.2-billion (USD 900-million) project will be funded by government and nongovernmental organizations and is subject to approval by China's National Development and Reform Commission (NDRC). The base is expected to have annual revenues of RMB 100 billion (USD 12.5 million).
The NDRC also has approved two other biopharmaceutical bases in Changchun (Jilin province) and Shijiazhuang (Hebei province).