Industry, Business and Community

Industry, Business and Community

Local Industry Support

Suzhou’s goal of building the Pharmacy Valley of China rests upon its determination and the solid existing infrastructure accumulated over the past decade. The Suzhou Industrial Park district stands out as the result of its deep industry resources.

SIP has consistently achieved a GDP growth rate above 20 percent and continuously worked toward the goal of becoming a world-class biopharmaceutical hub. For the last three years, clinical approvals for new biological drugs developed in SIP accounted for 22 percent of China’s total, and approximately 30 percent for biological macromolecular drugs. One of China’s most advanced and competitive industrial parks of its kind, SIP is distinguished by its extensive development of innovative drugs, high-end medical devices and biotechnologies. SIP is home to nearly one-third of China’s leading biomedical companies, with a series of leaders and upcoming champions within various niche markets. In a 2019 industrial park ranking released by the China National Centre for Biotechnology Development, SIP was ranked first along with Zhongguancun and Shanghai Zhangjiang in terms of overall competitiveness, and ranked first for industry competitiveness.

As of August 2020, SIP hosts more than 1,400 biotech companies, including over 1,200 independently held firms and more than 200 foreign-owned corporations. Total value of products and services produced in SIP reached RMB 90 billion in 2019, growing at a consistent rate of 20 percent throughout the years. Since its foundation, SIP has produced a total of four ‘unicorn’ and 15 ‘quasi-unicorn’ biomedical companies, along with 11 companies that have gone public. Of the 20 mainland-based pre-revenue biotech companies listed on the Hong Kong Stock Exchange, 10 of these have either headquarters or research facilities in SIP.

Social, educational and industry resources are necessary for the establishment of a world-class biopharmaceutical capital. Suzhou’s existing industry know-how and the favourable strategy of developing an international, open and academically rigorous institution create ample opportunities for building a high-quality pharmacy school. It is with this in mind that XJTLU has undertaken the formation of the Academy, a goal of great significance for both SIP and XJTLU, in order to help achieve the strategic objective of creating the Pharmacy Valley of China and fulfilling a social responsibility to the local community, the country and the world at large.