(Yicai Global) Nov. 9 -- BOE Technology Group, China's biggest maker of screens for televisions and smartphones, plans to invest CNY13.6 billion (USD1.9 billion) in a project to build a life sciences research center in Beijing.
BOE has penned a cooperation agreement with the capital's Fangshan District government, the Beijing-based firm said in a statement yesterday. The authorities will fund the project to the tune of CNY625 million (USD89.3 million), as well as offer policy support in terms of taxes, subsidies and talent acquisition.
The center, which is expected to open in 2022, will use artificial intelligence and the Internet of Things technologies to find ways to diagnose and treat diseases. The base will also include training facilities. BOE will seek international partners later for its digitalized hospital.
China was the world's second-largest market for pharmaceuticals last year, worth some USD122.6 billion, according to healthcare data company IQVIA.
Editor: Emmi Laine