Beijing's healthcare industry surpassed 1.06 trillion yuan ($146.2 billion) in scale in 2024, marking an 8.7% year-on-year increase and making it the first city in China to reach this milestone, according to the Beijing Municipal Science and Technology Commission.

As of February, Beijing had approved seven innovative pharmaceutical products, more than other Chinese cities. 

In 2024, the city approved 11 AI-powered medical devices and nine innovative medical devices, while nine innovative medicines were included in the country's breakthrough list. 

Beijing is emerging as a global hub for pharmaceutical innovation, as eight world-renowned companies, including Pfizer and Merck Sharp & Dohme, established their innovation centers in the city last year.

The Beijing Pharmaceutical and Health Industry Investment Fund, established last year, has already approved 44 projects, attracting nearly 9 billion yuan in investment.

Beijing has launched China's first AI data training base for the pharmaceutical sector and pioneered efforts to facilitate cross-border data exports for foreign-invested pharmaceutical firms.

The capital city is planning an international Bio-Park, expanding specialized incubation platforms, and launching a synthetic biology innovation center, in a bid to provide platforms for the industrial development. 

The city has also launched a clinical scientist training program and a CEO talent boot camp to support scientist-led startups, fostering cross-disciplinary leaders in the industry.

According to an official from the commission, Beijing will accelerate the development and commercialization of innovative drugs and medical devices and introduced new policy measures in 2025. Key areas include cell and gene therapy as well as brain-computer interface technology.

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