On June 3, the Guangdong-Macao In-depth Cooperation Zone in Hengqin announced newly revised measures to further support the high-quality development of the biomedical and health industry, with subsidies of up to 40 million yuan.

These measures aim to strengthen policy support across six dimensions: supporting benchmark projects, Hengqin-Macao collaboration, international development, the traditional Chinese medicine (TCM) sector, research and development (R&D) support, and the industrial ecosystem, designed to promote the construction of a world-class industrial hub and inject new vitality into Macao's brand industry and economic diversification.

Support for "Macao registration + Hengqin production" modeland international development

To enhance the "Macao registration + Hengqin production" model, the measures support the production of biomedical and health products in Hengqin. For products registered and approved in Macao and produced in the cooperation zone with permission to use the "Macao supervision" label, a subsidy of 20% of production costs will be provided, up to 20 million yuan per variety and 40 million yuan per institution annually.

The measures also encourage Macao and Hengqin enterprises to expand internationally. For medical products obtaining international registration certificates, a 50% subsidy of registration fees (up to 500 thousand yuan) will be provided, along with an additional 3 million yuan reward for products that are exported. For the introduction of clinically advantageous new drugs, a subsidy of 30% of actual investments, up to 36 million yuan, will be given.

Focus on TCM development

The measures emphasize support for the TCM industry. Subsidies are available for the R&D of TCM innovative drugs, improved TCM drugs, classical TCM compound preparations, same-name and same-formula drugs, and TCM preparations. 

Companies introducing mature TCM innovative drugs from outside the cooperation zone and conducting Phase II and III clinical trials within 12 months will receive subsidies of up to 26 million yuan and 40 million yuan for each stage, respectively.

Opportunities for international collaboration and economic diversification

The new measures are expected to have a positive impact on Macao's economic diversification. The cooperation zone will leverage the advantages of Guangdong and Macao to ensure the effective implementation of the measures. It aims to accelerate the construction of a "Macao R&D + Hengqin transformation" biomedical and health industry landscape, promote deep integration of the industrial chain between Hengqin and Macao, and support Macao's economic diversification.

By supporting the development of the biomedical and health industry, the cooperation zone aims to reduce Macao's reliance on traditional industries such as gaming and tourism, and help to create more job opportunities and promote sustainable economic growth.