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Fosun Establishes Major Technological Innovation Projects in Pudong, Shanghai

(19 September 2022) The signing ceremony of the strategic cooperation agreement between the Shanghai Federation of Industry and Commerce (SFIC) and the Pudong New Area, and the signing ceremony of private enterprises’ investment projects were held at the Zhangjiang Science Hall on 16 September. Projects such as Intuitive Fosun's headquarters and industrialization base project were signed at the signing ceremony. Wang Qunbin, Co-Chairman of Fosun International Limited (HKEX stock code: 00656), said that Fosun which is rooted in China, will continue to strengthen its presence in Shanghai, and take this signing as a new start to deeply integrate into the construction of Pudong Leading Pilot Zone and contribute “the Power of Fosun” to the new chapter of Pudong, Shanghai.

Zhu Zhisong, Member of the Standing Committee of the CPC Shanghai Municipal Committee and Party Secretary of Pudong New Area, Shou Ziqi, Vice Chairman of CPPCC Shanghai Committee and Chairman of SFIC, Hang Yingwei, Deputy Secretary-General of the Shanghai Municipal Government, Deputy Party Secretary and Governor of Pudong New Area, Wang Xiaohan, Vice Minister of the United Front Work Department (UFWD) of the CPC Shanghai Municipal Committee and Party Secretary of SFIC attended the signing ceremony. Dong Yiwen, Member of the Standing Committee of the CPC Pudong New Area Committee and Executive Deputy Governor of Pudong New Area, and Wang Jianming, Party Member and Vice Chairman of SFIC, signed the agreement on behalf of both parties. Zhang Feng, Member of the Standing Committee of the CPC Pudong New Area Committee and Head of the UFWD of Pudong New Area, officiated the event.

Wu Qiang, Deputy Governor of Pudong New Area, Zhao Lixin, Vice Chairman of SFIC, Vice Chairman of the CPPCC Pudong New Area Committee, Chairman of Pudong New Area Federation of Industry and Commerce, Chairman of GalaxyCore Shanghai Limited Corporation, Wang Junjin, Chairman of Zhejiang Chamber of Commerce in Shanghai, Chairman of Juneyao Group, Chen Ailian, Secretary of Party Committee of Zhejiang Chamber of Commerce in Shanghai, Chairman of the Board of Directors of Wanfeng Auto Holding Group, etc. witnessed the signing of private enterprises’ investment projects.

With the vigorous promotion of relevant departments such as Pudong Science Technology and Economic Commission and the Pudong Commission of Commerce, 18 projects including Intuitive Fosun's headquarters and industrialization base project will be established in Pudong. Wu Yifang, Chairman of Fosun Pharma, signed the contract as the project representative.

▲ Signing ceremony

With a total investment of more than RMB700 million and a total area of approximately 2.08 hectares (31.2 mu), Intuitive Fosun's headquarters and industrialization base project is a major technological innovation project of Fosun, which will be built into a local surgical robot ecosystem comprising technologies, trainings, services, support and solutions to accelerate the transformation of the medical industry locally, and benefit more patients in China.

Intuitive Fosun was founded in Shanghai in 2017 as a joint venture between Intuitive Surgical, the global leader in robotic-assisted minimally invasive surgery, and Fosun Pharma, a subsidiary of Fosun, aiming at building a regional innovation center integrating research and development, manufacturing and service, thereby establishing a leading local enterprise in precision medical solutions in China. Since its establishment, Intuitive Fosun has been adhering to the values of "patient first" and the spirit of "Made in China, joint R&D, Global Sales", based in Shanghai and rooted in China. In recent years, the number of installed da Vinci robotic-assisted surgical system and the number of operations performed by the da Vinci robotic-assisted surgical system in China have steadily increased. Up to now, nearly 300 da Vinci robotic-assisted surgical systems have been installed in China, and the total number of operations performed has exceeded 320,000.

Innovation-driven is one of Fosun's core competencies and an important endogenous driving force for its sustainable development. In 2021, Fosun invested RMB8.9 billion in technology and innovation. In the first half of 2022, Fosun’s investment in technology and innovation reached RMB4.6 billion, representing an increase of 21% over the same period last year. As of the end of 2021, Fosun owned over 1,500 patents for inventions in total with more than 500 new products under development.

In recent years, benefiting from the opportunities brought by the high-quality development of Pudong, Fosun has actively promoted the implementation of emerging industries and strengthened its development in Pudong by leveraging its global presence in the technology and innovation industry. Up to now, in addition to the three innovative pharmaceutical companies, namely Shanghai Henlius, an innovative biopharmaceutical company, Fosun Kite, the company with China’s first approved CAR-T cell therapy, and Intuitive Fosun, there are also many major industries such as Pramerica Fosun Life Insurance, the first private joint-venture life insurance company in China, and Forte Woli City, to be established in Pudong.

During the event, a roundtable discussion on high-quality development of the private economy was held, and Wang Qunbin spoke on behalf of entrepreneurs. Wang Qunbin said that as a Shanghai-based enterprise, Fosun is a witness, participant and beneficiary of the city's rapid development. This year marks the 30th anniversary of the Zhangjiang Science City and the 30th year of establishment of Fosun. Over the past 30 years, thanks to Shanghai, Fosun has developed into an enterprise that is equipped with global operation and investment capabilities, and has accumulated profound technology and innovation capabilities. Fosun’s various businesses have sustained resilience and accumulated capabilities to empower the future. “In the future, we will continue to strengthen our presence in Shanghai city and also in the whole country, and take this signing as a new start to deeply integrate into the construction of Pudong Leading Pilot Zone and contribute ‘the Power of Fosun’ to the new beginnings of Pudong.”

▲ Wang Qunbin, Co-Chairman of Fosun International, spoke on behalf of entrepreneurs

At the event, commemorative trophies were presented to representatives of private enterprises who made outstanding contributions to help Shanghai in fighting against COVID-19 and ensure supply for the community in Pudong New Area during that period. Zhu Wenkui, Secretary of the Party Committee of Fosun and Vice President of Fosun International received the commemorative trophy on behalf of Fosun.

▲Commemorative trophies were presented to Fosun and other private enterprise in recognition of their outstanding anti-epidemic efforts

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