China Medical City in Taizhou, Jiangsu. [Photo/WeChat account: tzfabu]

The Jiangsu Provincial Department of Commerce recently recognized two research and development centers in Taizhou's China Medical City as provincial-level foreign-funded R&D centers: the Product Innovation Center of Nestle Health Science (China) and the Antibody Drug R&D Center of Taizhou Mabtech Pharmaceutical. This marks a significant breakthrough, as they are the first provincial-level foreign-funded R&D centers in the city.

According to Yin Chen, deputy director of the commerce bureau of Taizhou Medical High-Tech Zone, this designation allows the two centers to benefit from tax exemptions and rebates when introducing advanced research equipment and technology, accelerating the commercialization of scientific and technological achievements.

Nestle Health Science (China) premises in China Medical City, Taizhou. [Photo/WeChat account: tzfabu]

Since settling in China Medical City in 2013, Nestle Health Science has focused on China's emerging medical nutrition market. Its R&D center, as the company's third global product innovation center alongside those in the United States and Switzerland, requires strong policy support to sustain its operations.

"For foreign-funded R&D centers, China's greatest appeal lies in its efficient and high-quality services and a fair competitive environment, which gives enterprises confidence to pursue innovation and growth," said Wang Hao, CEO of Mabtech. 

Taizhou Mabtech Pharmaceuticals. [Photo/WeChat account: tzfabu]

Mabtech's Antibody Drug R&D Center has been dedicated to developing antibody drugs for cancer and immune-related diseases. The company has gradually relocated its R&D operations from Shanghai to China Medical City in recent years. In 2023, its three self-developed antibody drugs generated a total revenue of 200 million yuan ($27.37 million), placing the company among the top in China's antibody drug sector.

Currently, Taizhou Medical High-Tech Zone is home to 292 registered foreign-funded enterprises, including 18 investments from Fortune Global 500 companies. Global pharmaceutical giants such as AstraZeneca, Nestle, and Boehringer Ingelheim have established a presence in the zone. The total import and export volume has reached $16.38 billion, with exports amounting to $7.39 billion and actual utilized foreign investment totaling $962.27 million.