What’s New

16 October, 2023

AstraZeneca Joins Force with Wuxi Guolian to Establish Wuxi Guolian-AstraZeneca Hong Kong Innovation Center
Promoting Talent and Technology Exchange to Drive Biotechnology Development

With the rapid development of innovation and technology, Financial Secretary Paul Chan Mo-po led a delegation to visit Paris in France, London in the UK, Berlin and Frankfurt in Germany, where he met with representatives from local industrial and business sectors. AstraZeneca was one of the companies actively engaged in the discussions. AstraZeneca has always placed great importance on its development in China and aims to bring more effective treatment solutions to patients with different diseases in the country. One of its significant collaborations is the signing of a Memorandum of Understanding (MOU) with Wuxi Guolian Development (Group) Co., Ltd., aligning with Wuxi's recently announced "465 Modern Industrial Cluster" system. This collaboration is expected to become another successful example of venturing foreign investment into China through Hong Kong.

The Innovation Center Facilitates Talent and Technology Exchange in Biotechnology
On the 13th, AstraZeneca and the Group signed an MOU during the "2023 Jiangsu-Hong Kong Economic and Trade Cooperation Conference." The MOU was witnessed by Hangzhou Tigermed and Yunfeng Capital, as the first batch of enterprises admitted to the Wuxi Guolian-AstraZeneca Hong Kong Innovation Center, marking the official launch of various collaborative initiatives. Under this MOU, both parties will collaborate to establish the Wuxi Guolian-AstraZeneca Hong Kong Innovation Center. Through information sharing, project resource integration and other means, the center aims to introduce commercialisation projects from research institutions in the universities of Hong Kong and overseas, and nurture research projects aligned with Wuxi's ambition in building a "465 Modern Industrial Cluster". This will drive the development of Wuxi's modern industrial system and realise the vision of mutual development between Wuxi and Hong Kong.

Mr. Leon Wang, Executive Vice President, International and China President of AstraZeneca, stated that AstraZeneca will actively leverage resources from its upstream and downstream industrial chain, partners and the ecosystem. With its technological platforms and industrial advantages, AstraZeneca will support the incubation of innovative outcomes. "The establishment of the Guolian-AstraZeneca Hong Kong Innovation Center will further promote talent and technology exchange between Wuxi and Hong Kong, accelerate the high-quality development of biopharmaceutical industry clusters in both regions and support the construction of modern industrial systems."

Aligned with the Biopharmaceutical Development in Wuxi's 465 Modern Industrial System
Wuxi has been actively promoting innovation and recently announced the "Implementation Opinions on Constructing the '465' Modern Industrial System to Accelerate the Construction of Key Industrial Clusters." This marks the official launch of the Wuxi 465 Modern Industrial Cluster construction. Over the next three years, Wuxi will focus on building a 465 Modern Industrial Cluster centered around 4 landmark industries, 6 competitive industrial clusters and 5 promising future industries. By 2025, in addition to the existing trillion-dollar mechanical industry foundation, Wuxi aims to create a new trillion-dollar information technology industry.

Based on the 465 Modern Industrial Cluster plan, Wuxi will strive to establish an industry cluster pattern characterised by "Landmark + Competitivity + Future" development. It will focus on industries including the Internet of Things (IoT), integrated circuits, biopharmaceuticals, software and information technology services and more, to build strong and leading landmark industries.

The Innovation Center Creates Significant Opportunities for Hong Kong and the Greater Bay Area
Ms. Shan Wu, General Manager of AstraZeneca Hong Kong and Macau, emphasised the company's important role in the field of biopharmaceuticals. "AstraZeneca is a leading global biopharmaceutical company that has introduced many innovative, efficient and breakthrough therapies in the treatment of cancer, cardiovascular diseases, diabetes, kidney diseases, rare diseases and respiratory diseases. Meanwhile, AstraZeneca possesses a strong upstream and downstream network and ecosystem resources to the Wuxi Guolian-AstraZeneca Hong Kong Innovation Center. These significant advantages not only support the development of Wuxi but also create significant opportunities and values for more technology and innovation, and medical service institutions in Hong Kong and the Greater Bay Area."

Wuxi recently announced that by 2025, the combined revenue of the 4 landmark industry industries and 6 competitive industrial clusters will reach 2.6 trillion dollars, while the revenue of the 5 promising future industries will maintain an annual growth rate of over 15%. The output value of the new generation of information technology industry, represented by the Internet of Things, integrated circuits, software and information technology services, will exceed one trillion dollars, and the advanced equipment industry will reach 500 billion dollars.