The signing ceremony of investment agreement on cooperation in “Research, Development and Industrialization of Biomedical Materials and High Value Medical Devices” of Changchun Sino Biomaterials Co., Ltd. was held at the Administrative Committee of Changchun Hi-tech Industry Development Zone. The agreement marks that Changchun New Area has taken a strategic step in the field of biomedical materials, thereby having laid a solid foundation for building the largest production base of biomedical devices and raw materials in Jilin Province. 

The project covers an area of 68,000 square meters, a construction area of 1026,000 square meters and a total investment of RMB1.343 billion. The cumulative output value will reach RMB10 billion within five years. The project mainly focuses on the R&D and production of biomedical devices and raw materials. The construction related to it covers R&D and pilot center, core production facilities and third-party testing center. Upon completion, a series of high-value medical devices will be developed to build Jilin’s largest production base for absorbable medical devices and raw materials for which a platform for the transformation of biomedical materials and medical devices in Jilin Province will be created to congregate advantages of universities, research institutes and clinical hospitals to jointly develop innovative and customized products for clinical needs. Once completed the third-party testing center for biomedical materials and medical devices will gradually form its comprehensive testing capacity which can ease the pressure of existing testing institutions, promote the establishment of new testing methods and standards, and thus facilitate the development of pharmaceutical industry of Jilin Province.  

The project is the first of its kind in Changchun New Area that’s been made possible in a new cooperative mode by a state-owned financial institution as an effort to attract more “phoenixes” to the “nests” provided by the government of Changchun City.