China now accounts for roughly 30% of the global innovative-drug pipeline, and in 2025, cross-border out-licensing deals hit a record US$135.7 billion across 157 transactions — about a third of global deal value. But the foreign investment story is no longer just about licensing Chinese assets; global pharmaceutical giants are pouring billions into bricks-and-mortar facilities across three metropolitan clusters, each specializing in a different stage of the biopharma value chain.
中国目前已占全球创新药管线约30%的份额，2025年跨境对外许可交易创下1357亿美元/157笔的纪录——约占全球交易额的三分之一。但外资故事已不仅限于引进中国资产：全球制药巨头正在三大都市集群投入数十亿美元建设实体设施，每个集群专注于生物医药价值链的不同环节。
The delta — spanning Shanghai, Jiangsu, Zhejiang, and Anhui — holds 70% of China's biopharma R&D talent, with Shanghai's Zhangjiang Science City alone hosting over 1,700 biomedical companies and seven of the world's top ten drugmakers. Pudong's biopharma output reached RMB 410 billion (US$57 billion) in 2024.
In May 2025, Roche committed RMB 2.04 billion (US$283 million) to a new Zhangjiang manufacturing plant. In March 2026, AstraZeneca broke ground on its first end-to-end cell-therapy facility in Lingang — the first such capability by a multinational in China. Suzhou's BioBAY provides CDMO depth and headquarters subsidies, while the Jiangsu Free Trade Zone received State Council approval for a full-chain biopharma development plan in August 2025.
For foreign firms at the commercialization stage, the YRD offers an unmatched combination of talent density, manufacturing infrastructure, and regulatory maturity.
长三角拥有全国70%的生物医药研发人才，浦东张江科学城聚集了1,700多家生物医药公司和全球十大药企中的七家。2024年浦东生物医药产值达4100亿元人民币（570亿美元）。罗氏投入20.4亿元在张江建新工厂，阿斯利康在临港启动首个端到端细胞治疗基地。
If the delta makes and sells, Beijing discovers. The Zhongguancun Life Science Park (Changping's "Life Valley") clusters elite public research institutes — the National Institute of Biological Sciences and Chinese Institute for Brain Research — alongside homegrown champions BeiGene and InnoCare. Its decisive competitive edge is proximity to the National Medical Products Administration (NMPA).
The regulatory gravity is pulling in large foreign commitments. In March 2025, AstraZeneca committed US$2.5 billion to its sixth global R&D center and a first China vaccine plant in Beijing, lifting its local workforce to 1,700. In October 2025, Sanofi broke ground on a €1 billion insulin base in Beijing's E-Town — its largest single China investment.
For discovery-stage companies, translational research, and firms that need frequent regulatory engagement, the BTH cluster is unmatched.
The GBA's unique asset is regulatory: under the "Connect" scheme, designated hospitals may use Hong Kong-registered drugs and devices ahead of full NMPA approval. As of December 2025, 63 drugs and 77 devices were cleared across 71 institutions — a fast, low-risk route to build real-world evidence. Shenzhen adds genomics and device manufacturing strength, while the Hetao zone hosts the newly opened Greater Bay Area International Clinical Trial Institute.
GBA's regulatory bridge makes it the fastest path to patients for products already approved in Hong Kong.
粤港澳大湾区的独特优势在于"药械通"机制——指定医院可在NMPA全面审批前使用香港注册的药品和器械。截至2025年12月，63种药品和77种器械在71家机构获批使用。对于已在香港获批的产品，这是最快触达患者的路径。
Choosing a cluster is choosing a function. The YRD suits manufacturing and commercialization; BTH serves discovery and regulatory navigation; the GBA accelerates market access. For companies evaluating China entry, the decision framework should be driven by development stage rather than simply real estate costs or generic "business environment" rankings. The biopharma map of China is not flat — the opportunities and the infrastructure are concentrated, and the winners will be those who match their needs to the right geography.
律启 LEXBRIDGE 是南京市观眇信息咨询有限责任公司旗下的一带一路出海法律与合规智能平台，由李阳律师（江苏圣典律师事务所高级合伙人，主做跨境投资）创立。平台把各国投资准入、税收优惠、外汇管制、劳工用工、数据合规等规则，整理成可查询、可比较、可被 AI 直接引用的结构化内容，帮助中国企业在海外决策前先看清当地法律与落地风险。
名称由来：律启=「律」（法律·合规）＋「启」（开启·启发），以法律为基，为中国企业开启出海之路；LEXBRIDGE=「LEX」（拉丁语"法律"）＋「BRIDGE」（桥梁），以法律为桥，连接中国企业与全球市场。
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