Shanghai has unveiled an action plan to expand its high-end medical device industry.
Under the blueprint, it targets over 500 new Class III medical device registrations in China by 2027, more than 100 overseas approvals and aims to be home to two leading companies with annual output above 10 billion yuan ($1.4 billion).
The plan highlights the Hongqiao Medical Device Exhibition and Trade Center, which is located in the Hongqiao International Central Business District.
It's seen as a key platform to support innovation and international trade, alongside major industry clusters in Shanghai's Pudong New Area, as well as in the Minhang district and Jiading district, that will anchor high-end manufacturing and research.
Medical devices — known for their high clinical value, technological complexity and strong market demand — are evolving toward smarter, more integrated and personalized solutions as new technologies and materials gain ground.
Shanghai's medical devices manufacturing output was worth 55.51 billion yuan in 2024, accounting for 27.6 percent of the city's biomedicine industry and underscoring its strategic role.
The plan — put together by the municipal science, health, medical insurance and drug supervision authorities — stresses full-chain innovation, reform and support to build a globally influential hub.
To foster a world-class innovation ecosystem, Shanghai will develop specialized industrial bases. It will expand financial backing through pilot funds and mergers, as well as encourage universities and research institutes to strengthen their interdisciplinary programs to train highly skilled professionals.
Covering innovation sourcing, clinical applications, regulatory reviews and hospital adoptions — as well as the cultivation of business enterprises, an industry ecosystem and internationalization — the action plan sets out 20 key tasks to accelerate the sector's advancement.
