On June 27-28, the Jinhua delegation, participating in the 2023 Hong Kong & Macao - Zhejiang Week, engaged in a range of collaborative activities in Macao. During this time, Jinhua signed a cooperation agreement with Macau University of Science and Technology (M.U.S.T.) and engaged in discussions to promote the research and development of traditional Chinese medicine (TCM) and its industrial growth.

In recent years, the TCM industry in Macao has experienced remarkable growth, presenting new and promising opportunities for the local economy’s diversification. As early as 2011, the first national key laboratory in China’s TCM field, known as the State Key Laboratory of Quality Research in Chinese Medicines, was established in Macao.

Jinhua has unique strengths in the field of TCM and has developed a comprehensive TCM industry chain, covering everything from breeding and cultivation to production, research and development, and marketing of TCM products. The TCM industry in Jinhua is a leader in Zhejiang. It has the province’s only provincial-level TCM innovation service complex and is home to prominent TCM companies, including Conba Bio-Pharm Co., Ltd. and Garden Bio-Chemical Park. Jinhua also has one of the top 100 TCM enterprises in China and two listed TCM companies. The city has formed a biopharmaceutical industry cluster centered around the urban area, with Lanxi, Dongyang, and Yiwu playing key roles. In 2021, Jinhua had 46 large-scale pharmaceutical industrial enterprises, ranking third in Zhejiang. These enterprises achieved a sales revenue of 19.4 billion RMB and a profit of 4.12 bn RMB.

On December 30, 2022, the Jinhua Municipal People’s Government, Zhejiang Chinese Medical University, and China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. entered into a cooperative agreement, officially unveiling the Zhezhong Laboratory. This laboratory is driven by market demands and is dedicated to the unique aspects of TCM, aiming to become a leading research and development institution with a comprehensive and innovative approach. It combines five key functions, including basic research, applied research and development, industrial incubation, project investment, and talent cultivation, all centered around the distinctive characteristics of TCM.

On June 27, during the 2023 Zhejiang, Macao, Portuguese-speaking countries Economic and Trade Cooperation Exchange Conference, the Zhezhong Laboratory signed a contract with the State Key Laboratory of Chinese Medicine Quality Research at Macau University of Science and Technology. On June 28, the Jinhua delegation, participating in the 2023 Hong Kong & Macao - Zhejiang Week, visited M.U.S.T. for extensive discussions with the university’s leaders and the head of the State Key Laboratory.

“The contract signing enables Jinhua and Macao to combine their valuable resources, supporting the innovative development of the Zhezhong Laboratory. It will enhance Jinhua’s scientific and technological innovation in TCM and strengthen cooperation in the TCM industry between Jinhua and Macao. This will further promote the global recognition of Chinese medicine and provide support for Jinhua’s efforts to build a modern and prosperous city. It will also contribute to Macao’s progress towards a more diversified economic development,” said Chen Su, director of the Jinhua Science and Technology Bureau. (By Zhang Yixiao)