HANGZHOU, May 21 (Xinhua) -- The eastern Chinese city of Hangzhou released a guideline on Monday to help boost innovation in the city's bio-medicine industry.
Hangzhou will work to become a leading city in China for research and development in the bio-medicine sector by 2020, with the sector's revenue exceeding 100 billion yuan (around 15.6 billion U.S. dollars), according to the guideline.
It also aims to become a bio-medical innovation city with global influence, said the guideline.
Hangzhou will prioritize developing new bio-technological drugs such as antibody drugs and new vaccines, according to the guideline.
In 2017, the total industrial output value of bio-medicine companies in Hangzhou hit nearly 50.8 billion yuan, up 22.9 percent year on year.
Seven of the 10 top global bio-medical companies have set up offices in the city's economic and technological development area.