Hangzhou, the provincial capital of Zhejiang Province, has an area of 16,800 square kilometers and a population of 10.36 million. Hangzhou’s economy ranks among the top ten cities in China, and its economic strength is strong. In 2019, Hangzhou achieved a GDP of 1,537.3 billion yuan and a revenue of 365 billion yuan. In April 2019, Zhejiang Provincial Government approved the establishment of Hangzhou Qiantang New Area which covers Hangzhou Dajiangdong Industrial Cluster and Hangzhou Economic and Technological Development Area. The New Area implements the management system framework of “One Platform, One Project, One set of Team and Multiple Brands”. It holds three national-level brands, namely Hangzhou Economic and Technological Development Area, Hangzhou comprehensive Bonded Zone and Linjiang High-tech Industrial Development Zone. It holds Xisha, Baiyang, Hezhuang, Yipeng, Xinwan, Linjiang,and Qianjing substreet. It has a permanent population of 1.06 million and the total planned area is 531.7 square kilometers.
Hangzhou Biopharma Town (HBT) is located in Hangzhou Qiantang New Area, 10km away from Hangzhou Eastern Railway Station, 15km from Xiaoshan International Airport, and 50 minutes to Shanghai by high-speed railway. There are seven expressways forming a “1 hour” traffic circle to the Yangtze River Delta cities. HBT Covers an area of 3.5 square kilometers, with biomedicine industry output value reaching 35 billion yuan, which accounts for 50% of Hangzhou’s, thus becomes the core area for Zhejiang and Hangzhou to develop biomedical industry, focusing on biotechnology drugs, biomedical engineering, high-end medical apparatus and medical big data for industry cultivation and recruitment. By the end of 2019, HBT had gathered over 1000 bio-pharmaceutical enterprises, and seven of the top ten pharmaceutical companies in the world had settled here, including Pfizer, Merck, Eli Lilly, Gilead, Bayer, Abbott and Johnson & Johnson. HBT will aim to build a domestic leading and international first-class biomedical R&D and innovation highland. By 2025, HBT strives to achieve a revenue of 100 billion yuan in the main business of the biopharmaceutical industry, to gather 4,000 enterprises including 150 regulated enterprises, to reach R & D ratio of 12%, and to gather 200 municipal, provincial and national high-level talents.