The Administration Committee of the Binhai New Area in Tianjin plans to employ policies to encourage the development of bio-pharmacuetical industry, Economic Observer reported (in Chinese). The policies include subsidies of up to US$675,000 for national and provincial-level research and development institutions to set up production facilities in Binhai. The district also promised to provide comprehensive support, including consulting and financial services for small and medium-sized high-tech enterprises. About 5% of the development zone's annual financial revenue will be used to fund the development of the bio-pharm industry.
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