AstraZeneca investing heavily in high-tech district

AstraZeneca announced the next strategic innovative move with the WND at the Boao Forum for Asia Annual Conference in 2019.

The deal commits the company to supporting the building of the Wuxi International Life Science Innovation Park, or the I-Campus.

It's another attempt by AstraZeneca to build an incubation platform for early research and development, industrialization of research achievements, display of intelligent products and professional services in the life sciences sector.

This platform covers four areas in the pharmaceutical industry: drugs, devices, diagnoses and digital, according to the company.

The new park is expected to provide a strong innovation center for startups at home and abroad to develop new medical products and technologies that meet more patients' needs.

Noting the importance of government incentives to help foreign investors overcome barriers, Steve Bates, CEO of the United Kingdom Bio-Industry Association, said: "The campus will become an attractive place for UK companies to invest. We are very keen to help with some of the challenges."

"Our healthcare internet of things strategy started here (in Wuxi); it will leave its mark across the country and among those involved in the Belt and Road Initiative, bringing benefits to patients not only in China but across the world," said Leon Wang, the company's executive vice-president.

"We expect to attract more than 100 innovative companies in five years, gathering global talent and resources in cutting-edge technologies to build an international life science industry cluster," Wang added.

In April this year, the first 10 enterprises set up shop in the I-Campus. The I-Campus and its strategic partner, the Australian 'Drade and Investment Commission, also announced they will work together to promote the exchange and interaction of Chinese and Australian life science companies.

Bao Di, general manager of Greater China at the Australian Tra.de and Investment Commission, said the importance of innovation and cooperation between the health sector and enterprises is being highlighted during the COVID-19 pandemic.

He said he believes that cooperation could help both sides to further expand cooperation areas and make contributions to patients worldwide.

According to AstraZeneca, it plans to launch more life science innovation campuses in more Chinese cities in the future, including Beijing, Shanghai, Guangzhou, Chengdu and Hangzhou.

China is AstraZeneca's second-largest market in the world. In 2019, the company achieved nearly $4.9 billion in sales in China.

The WND has become a strategic hub for AstraZeneca's R&D, production, operations and innovation in China, thanks to its advantageous location, supportive local government and top-notch infrastructure, according to Wang.

"When it comes to the local government, we have found officials open-minded, and the district's favorable tax policies make the city especially attractive," Wang said.

AstraZeneca's two supply bases and logistics centers in Wuxi and Taizhou, Jiangsu province export high-quality medicines to nearly 80 countries and regions around the world. In 2019, the company's total import and export volume exceeded $4.2 billion.