Towards a One Health Future: Policy Analysis for Traditional Chinese Medicine and Biopharmaceuticals Industries in the Hengqin Guangdong-Macao In-Depth Cooperation Zone
Year: 2024
Type: article
Abstract: Background: The Hengqin Guangdong-Macao In-Depth Cooperation Zone, under the “One Country, Two Systems” framework, promotes biopharmaceutical and Traditional Chinese Medicine (TCM) industries aligned with the “One Health” approach. Policy Focus: support TCM research and manufacturing with significant subsidies; establish the “Macao Registration + Hengqin Production” brand with a comprehensive subsidy framework; enhance R&D support for innovative TCM, biological products, and chemical drugs; and foster industry-university partnerships with matching subsidies for collaborative projects. Cases Study and Policy Analysis: With policy support, Sunshine Lake Pharma and Cheong Kun Pain Reliever Oil successfully boost international competitiveness and expand cooperation between Macao and mainland China. However, high entry barriers and complex procedures pose challenges for smaller firms, limiting broader industry participation. Suggestions: Enhancing talent subsidies, streamlining procedures, and lowering thresholds for small enterprises and innovation-driven projects would better promote One Health objectives of Guangdong and Macao.
Authors: Xinyi Chen, Dongmei Xue, Ying Bian
Institution: University of Macau
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405729963