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Hainan, the southernmost province in China, has rolled out a comprehensive set of policies designed to bolster its local biomedical industry and establish itself as a national innovation hub. The new measures include subsidized loans and generous cash incentives aimed at attracting investment and fostering growth in the biotech sector.
The province recently unveiled 22 specific initiatives, such as halving the interest rates on loans related to mergers and restructuring efforts. It also offers incentives of up to 30 million CNY (approximately 4.2 million USD). These policies will be in place for three years, starting September 13.
These incentives are intended to encourage companies from Hainan and outside the province to collaborate with local healthcare firms and pursue listings within China or abroad. Interest subsidies are available for two years, with a cap of 5 million CNY (around 696,000 USD) per project.
In addition, substantial rewards ranging from 400,000 CNY to 10 million CNY (roughly 55,700 USD to 1.4 million USD) will be provided to support product development activities, including preclinical research, clinical trials, and commercialization efforts. Firms that secure contracts through China’s centralized medical procurement program can qualify for incentives up to 3 million CNY or 3% of their sales.
Hainan also plans to enhance its biopharmaceutical supply chain by supporting leading projects in innovative drugs, synthetic biology, advanced medical devices, nuclear medicine, and breakthroughs in traditional Chinese medicine. Each year, three major projects will be selected to receive up to 30 million CNY in support.
Furthermore, the province seeks to develop emerging fields like bio-manufacturing, medical cosmetology, nutritional medicine, and digital therapeutics. It intends to promote the practical application of biotech research in high-value markets—such as new vaccines, antibody treatments, cell and gene therapies, marine biological products, synthetic biology, and aerospace medicine—driving innovation and commercialization efforts across these sectors.
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