Taizhou emerges as major chemical raw material manufacturing, export hub in China

chinadaily.com.cn | Updated: 2023-06-25

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A pharmaceutical workshop in Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]

Taizhou in East China's Zhejiang province is now the sole chemical raw material export base in China, authorities recently announced at the second Zhejiang Life and Health Conference, which was held in the city.

The city is now leading the nation in the production of both chemical raw materials and pharmaceutical intermediates, making it the go-to destination for raw material drugs worldwide.

According to recent data, the total output value of the pharmaceutical industry in Taizhou reached a staggering 50.17 billion yuan ($6.99 billion) in 2022, marking a year-on-year increase of 18.4 percent.

Taizhou's revenue from raw material drug manufacturing reached 44.63 billion yuan in the same year, accounting for approximately one tenth of China's total and one third of Zhejiang's total. Notably, 37 of the city's products now occupy an international market share of over 30 percent.

Taizhou has also established itself as the largest production base of antibiotics, anti-tumor drugs, and steroid drugs in China, as well as a national-level manufacturing base for aseptic medical equipment.

The city's sustained scientific and technological innovation in the pharmaceutical industry is the primary reason behind its exceptional success.

Taizhou currently boasts seven national-level enterprise technology centers, seven academician workstations, and 16 national-level postdoctoral research stations. The R&D expenses of above-designated-size pharmaceutical and health enterprises accounted for more than 3 percent of their total revenue.

Moreover, Taizhou boasts 19 listed companies in the pharmaceutical industry, which account for 30 percent of the total debuting on the Shanghai and Shenzhen bourses in Zhejiang. Huahai Pharmaceutical, for example, is the first Chinese company to obtain certification from the Food and Drug Administration (FDA) to sell general products in the United States.