Beijing boosts healthcare industry

The revenue of Beijing’s healthcare industry is expected to reach 250 billion yuan ($36 billion) by 2020, as the city boosts the industry’s innovation capacity and integration with the high-tech research sector, local authorities said on Friday.

The goal is part of the municipal government’s three-year action plan, spanning 2018-20, that aims to form an ecosystem that integrates the healthcare industry and research institutions.

Beijing’s healthcare industry has seen steady growth in recent years, bolstered by the rise of its life science and biotechnology sectors. In 2017, the value of the city’s healthcare industry reached 163 billion yuan, up 13 percent year-on-year, according to the plan.

The rapid development of artificial intelligence, fifthgeneration connectivity and big data have brought new opportunities for the healthcare industry in Beijing.

“Priority will be given to innovations in pharmaceuticals development and highend medical equipment,” said Xu Qiang, director of the Beijing Municipal Science and Technology Commission. “We will dedicate more effort and resources to introducing advanced technologies and new business models in related fields.”

Incubators will be established in pilot areas, including the capital’s Life Science Park, colleges and medical institutions, to strengthen startup incubators’ specialization and efficiency.

Haijieya Medical Equipment Ltd Co is a high-tech company producing cancer therapy machines in the Zhongguancun Science Park in Beijing’s Haidian district. Huang Wenming, its CEO, said the plan will better support healthcare-related companies by attracting more resources and enhancing industrial communication.