The China Medical City aims to have a local healthcare industry worth more than 100 billion yuan ($15.2 billion) and house 1,000 pharmaceutical enterprises over the next three to five years. In 2010, the city began hosting the China (Taizhou) International Medical Expo, which is now held each fall. What started as a local initiative has been upgraded into a national priority, receiving central funding to support its expansion.
According to the CMC, it currently hosts more than 560 medical enterprises, including 12 vaccine companies, TCM and general medical universities, in addition to a children's hospital. The range of medical projects in the works includes regenerative medicine, biotechnology, medical devices, and stem cell research. The CMC staff and local officials alike spoke in earnest about their desire to recruit more foreign students to study at local universities, and were keen to draw attention to the prestigious university degrees held by the center's resident researchers. The campus is also strategically located near the offices of local regulatory agencies, and it also offers offices to rent and research facilities to small and medium-sized businesses. The CMC claimed that most large organizations have preferred to build and manage their own facilities. In addition, the CMC has its own human resources staff "to help companies recruit domestic and foreign talents," Wang said, "as well as an intellectual property office to assist companies."
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