Guangzhou boosted exchange and cooperation with Japanese biomedical enterprises

On August 30, a biomedical business fair took place in Guangzhou, involving enterprises from China (mainly Guangzhou) and Japan. The fair was intended, through in-depth communication, to improve mutual understanding in biomedical fields, and promote cooperation in biomedical technology and application.

(Photo provided by Guangzhou Municipal Commercial Bureau)

The fair was jointly held by Guangzhou Municipal Commercial Bureau, Japan External Trade Organization (JETRO) Guangzhou, and Infinite Capital Holding Company (ICAP).

Japanese startups of innovative medicine from Tokyo, Kyoto, Fukuoka, Tokushima, all joined the online and offline communication with famous domestic companies such as BeiGene, and Guangzhou Pharmaceutical Holdings (GPHL). After elaborating project road shows, some enterprises already entered into letters of intent for cooperation.

According to Wang Xiaohua, an official in Guangzhou Municipal Commercial Bureau, Japan has been Guangzhou's long-standing trade partner, and has world-leading biomedical companies and institutions. The fair helped them to know more about Guangzhou.

Shimizu Kenji, head of JETRO Guangzhou, mentioned that Guangzhou has a developed biomedical industry that's among the best in the country, and JETRO Guangzhou has been dedicated to two-way projects that encourage Japanese top startups to enter the Chinese market, and competitive Chinese enterprises to Japan.

Background:

In recent years, Guangzhou has seen an over 10% annual growth in biomedical industry. In 2020 alone, added value in Guangzhou biomedical and health industry increased 6.2% year on year to RMB 135.698 billion, among which medical manufacturing climbed 16.6%, and biomedicine & high-performance medical devices jumped 23.5%. By 2020, Guangzhou had over 5500 biomedical enterprises, 50% of that of Guangdong province, and ranked 3rd in China.

By July 2021, Japan had invested a total of 719 enterprises in Guangzhou, involving contractual foreign capital 7.337 billion US dollars, and foreign direct investment (FDI) 6.761 billion US dollars mainly in industries such as wholesale & retail, scientific research & technical services, leasing & business services. More investment is due to arrive in manufacturing industries including cars, computers, communication devices, and other electronic equipment.

Author: Ray (intern)

Editor: Will, Jerry