The Guangdong-Macao In-Depth Cooperation Zone in Hengqin was selected as a key development area of the biomedicine industry in Guangdong Province, officials announced during a May 12 press conference of the Medical Products Administration of Guangdong Province.

As stated in the General Plan for Building the Hengqin Cooperation Zone, Traditional Chinese Medicine (TCM), one of Macao's signature businesses, will be a major industry in Hengqin. The Hengqin-based TCM Science & Technology Industrial Park of Cooperation Between Guangdong & Macao has also become an important platform for the local TCM industry. It is currently home to over 220 companies, of which 54 are Macao-funded enterprises involved in the fields of TCM, cosmetics, healthcare products, medical devices, and medical services.

TCM Science & Technology Industrial Park of Cooperation Between Guangdong & Macao in Hengqin[File photo by Li Jianshu / Zhuhai Media Group]

Yan Zheng of the Medical Products Administration of Guangdong Province noted that more supports will go to the park's development, adding that a Guangdong-Hong Kong-Macao TCM Policy & Technology Research Center will be set up.

Of note, the Guangdong-Macao Medical Institute's TCM Preparation Center was established in Hengqin in December 2019, and its first standardized R&D variety, Yiqi Ganlu Granule, has obtained the filing number of its formula from the National Medical Products Administration.

Innovative inspections and services will be available, according to Yan, such as assigning appointed contacts for key projects, offering advanced matchmaking services, as well as arranging policy and regulation consultations and assistance in handling application materials to help innovative products enter the market and boost the growth of enterprises and the industry.

In addition, the Guangdong-Hong Kong-Macao Greater Bay Area Summit on High-quality TCM Development, as well as the Biomedicine & Health Industrial Cluster Innovation Conference (Hengqin) will also be held in Cooperation Zone permanently.

Zhang Jingsong, director of the Commerce Department of Guangdong Province, spoke highly of Hengqin's efforts in supporting Macao's diversified industrial development, as well as praised the zone's strong momentum in developing industries like sci-tech R&D, TCM, culture, tourism, conventions, commerce, and modern finance.

The innovative development of the biomedicine industry is only a small part of GBA's reform and development, said Zhang. Guangdong has also been increasing its opening-up level to Hong Kong and Macao in sectors like finance, law, architecture, and tourism. For instance, the quota for vehicles from Macao entering Hengqin has increased by 10,000. Guangdong has now become the first choice of entrepreneurship on the Chinese mainland for Hong Kong and Macao youths.