The State Development and Investment Corp (SDIC) signed an agreement with the Yangzhou city government to strengthen cooperation across a broad range of sectors on Sept 27.
According to the agreement, the two sides will set up comprehensive strategic cooperation in fields including biological medicine, medical system reform, health care and medical services, automobile and parts industry, advanced manufacturing and strategic emerging industries, financial service, inspection service and reform of state-owned assets and state-owned enterprises.
China SDIC Gaoxin Industrial Investment Corp Ltd, a subsidiary of SDIC has cooperated with Hanjiang district government of Yangzhou, the United Biomedical Inc and Shanghai Shimao Wuyuan Group to sign a memorandum, focusing on the biological medicine industry to build a global top-level biological medicine base in Yangzhou based on its location advantage and influence of the Yangtze river delta biological health industry zone in the Yangzhou high-tech zone.
As the main part of SDIC's investment in the strategic emerging industries, the subsidiary has managed over 150 billion ($21.72 billion) worth of funds, has driven 500 billion yuan of social investment, and has become one of the largest and most comprehensive equity fund investment management institutions in the central state-owned enterprises.
The cooperation is also part of the SDIC's push to build the "Healthy China".