"One Building, One Industry": Huan Dong Plaza Emerges as a Biomedical Landmark in Yuexiu District, Guangzhou

In recent years, bolstered by continuous policy and financial support, China’s biopharmaceutical industry has increasingly trended toward clustered development, with both national and local governments actively strategizing and supporting its growth.

This is a field brimming with imagination and boundless challenges. Particularly as urban development deepens into industrial construction, those who can first achieve breakthroughs in the biopharmaceutical industry will seize the strategic high ground for future growth.

As a key national central city and the core engine for regional development in the Guangdong-Hong Kong-Macao Greater Bay Area, Guangzhou is focusing on innovative development in the pharmaceutical and healthcare sectors. In recent years, Guangzhou’s biopharmaceutical industry has experienced rapid growth, with an annual average increase of over 10% in industrial scale. The city has gathered more than 6,000 biopharmaceutical enterprises, ranking third nationwide.

As the hub of Guangzhou’s medical resources, Yuexiu District issued the Implementation Measures for Promoting the Development of the IAB Industry in Yuexiu District, Guangzhou City as early as September 2019. To support the full-lifecycle development of health and medical enterprises—including site selection and rental, achievement commercialization, qualification certification, and equity investment—the district innovatively introduced reward clauses for achievement commercialization, thereby fostering the sustained and healthy growth of Yuexiu’s medical industry.

In July 2021, Yuexiu District released the Outline of the 14th Five-Year Plan for National Economic and Social Development of Yuexiu District, Guangzhou, and the Long-Range Objectives Through 2035, which clearly stated: consolidate and enhance the three leading industries, including the life and health industry; prioritize the planning and development of an innovation zone for the life and health industry in the Guangdong-Hong Kong-Macao Greater Bay Area; and build the district into an international healthcare center, a highland for biopharmaceutical technology, a global hub for new drug clinical trials, and a talent highland for high-end professionals in life and health.

The renovation of Huandong Plaza is a proactive response to government planning, situated at the core of the Innovation District.

Huandong Plaza, formerly known as the “Guangzhou Jiafu International Hotel,” was once the tallest building in the Shizhuang area of Guangzhou. In January 2020, with the full support and guidance of Zhujiang Industrial Group, Pearl River Holdings took over the entire project, transforming it into a central urban technology and health complex. By infusing the old building with innovative vitality in biomedicine, it has the potential to become another innovative model for biomedical industrial parks in China.

Huandong Plaza, originally constructed in 1986, was formerly known as the “Guangzhou Jiafu International Hotel.” After the hotel commenced operations in 1990, it became the tallest building in Ouzhuang and a landmark structure within Guangzhou’s early central business district (CBD).

In 2020, Zhujiang Industrial acquired the property and partnered with Tongchuang Company, an industry veteran, to implement a micro-renovation strategy. This approach preserved and reinforced the existing main structure, while refurbishing the building’s facade and interior decor, and revitalizing the surrounding landscape. The renovated Huandong Plaza primarily attracts enterprises in high-end healthcare, technological innovation, and health services.

Before-and-After Comparison Images of the Huandong Plaza Renovation

According to relevant officials from Huandong Plaza, the project’s rental income during its stable phase is projected to reach RMB 40 million, with an average annual output contribution of RMB 2 billion, marking a significant improvement in building efficiency compared to pre-renovation levels. Currently, Huandong Plaza has been successfully selected as one of the pilot projects for quality improvement and efficiency enhancement in Guangzhou’s industrial parks in 2021.

Compared with other biopharmaceutical industrial parks in China, the Huandong Plaza’s core urban “old building revitalization” model stands out as particularly distinctive, thereby shaping its unique industrial positioning and competitive advantages.

First, Huandong Plaza boasts a highly advantageous location, which has brought it abundant hospital and customer resources. Quzhuang"Aggregates the most concentrated and highest-quality resources of public tertiary hospitals in South China.", it already boasts abundant customer resources, product application scenarios, and medical expert talent. As the newly developed, highest-grade industrial space in Ouzhuang, Huandong Plaza naturally possesses the advantages for developing the high-end health industry.

According to reports, within a 2-kilometer radius of the area, there are 14 medical institutions, including the Zhongshan Ophthalmic Center and Sun Yat-sen University Cancer Center, nine of which are Grade A tertiary hospitals. This makes the medical industry resources extremely unique. Additionally, key educational institutions such as the North Campus of Sun Yat-sen University are located nearby, providing abundant educational and talent resources.

Huandong Plaza boasts a highly advantageous location.

Secondly, the “government + state-owned enterprise” model, guided by the government, supported by state-owned enterprises, and operated by professional institutions, will provide tenant enterprises with multi-party resources.The project company is a subsidiary of Zhujiang Industrial Group, a municipal state-owned enterprise (SOE) in Guangzhou. This affiliation ensures operational stability and provides tenants with peace of mind. In terms of project operations, the company leverages the advantages of municipal state-owned capital to foster close collaboration with local government, serving as a strong brand endorsement for tenant enterprises. Regarding industrial strengths, the group has already established a business presence in sectors such as rehabilitation medicine and elderly care, which will achieve business synergy with Huandong Plaza.

In terms of industrial resources, the project leverages key assets such as the International Medical Exchange Center, the Exhibition Hall of the Life and Health Industry Technology Research Institute, and the Huandong Venture Capital Reception Lounge, which are prioritized by the government. It further draws industrial momentum from organizations including the Guangdong Medical Industry Association, the Guangzhou State-owned Assets and State-owned Enterprises Innovation Alliance, and the Guangzhou Bioengineering Center.Comprehensive industrial supporting facilities help build a leading industrial chain for biopharmaceuticals and healthcare., attracting high-quality enterprises to accelerate clustering, with significant industrial advantages.

Meanwhile, the industrial park integrates industry resources to build a comprehensive health industry service platform, bringing together government agencies, investment and financing institutions, hospitals, and service providers to help enterprises bridge“Projects + Capital + Business + Market”and other core resources, helping technology-based small and medium-sized enterprises grow better and faster.

Furthermore, Huandong Plaza is a rare brand-new modern office building in Guangzhou’s old urban districts. In response to the flexible working hours of enterprises, the project’s office areas are equipped with VRV split central air conditioning systems, enabling 24/7 round-the-clock operations. Through independent switches, temperature controls, and individual unit metering, it meets companies’ customized needs at the lowest possible cost.

Internal Environment

Leveraging its unique location, industrial advantages, and abundant resources, Huandong Plaza prioritizes the following types of enterprises during its recruitment efforts: first, medical companies seeking collaboration with hospitals; second, companies that need to be close to customers with healthcare needs and require space for product demonstration; third, companies seeking access to government and investment/financing institution resources; and fourth, growing companies in need of high-quality office spaces.

Based on this, Huandong SquareEntering through niche segments such as medical devices, CROs, consumer healthcare, and health management., introducing a group of representative enterprises from the industry, committed to building the project into a central-city technology and health complex.

Since its opening in June 2022, the corporate office area of Huandong Plaza has attracted 30 enterprises, including 14 in the medical and health sector. The concentration of companies in this vertical industry approaches 50%, covering areas such asHigh-growth technology enterprises in innovative drug development, ophthalmic medical devices, clinical and preclinical CROs, and synthetic biology.

For example, Henry Biotech, which has established its presence in Huandong Plaza, is a provider of full-industry-chain solutions for the medical aesthetics sector. The company has developed multiple products and successfully achieved industrial-scale production, completing the transformation of bioactive materials from raw ingredients to finished goods. It has established a comprehensive business system covering the entire value chain of functional skincare products, serving manufacturing enterprises, medical institutions, and end users across the global healthcare, wellness, and beauty industries.

In summary, the “government + state-owned enterprise” model of Huandong Plaza, its advantageous location, and abundant hospital resources can provide excellent industrial support for tenant companies; however, for start-ups,Stable financial support is an essential element for advancing its R&D and production.

In response to this, the industrial park is currently building“Huandong Plaza · Venture Capital Reception Hall” Brand Event,Provided to enterprises within the industrial parkFinancial investment and financing services, technology innovation achievement transformation and application services,Promote industrial development by leveraging strengths in technology empowerment, financial services, and industrial commercialization.

At the inaugural “Huandong Plaza · Venture Capital Living Room” event held this September, eight biopharmaceutical companies completed on-site roadshows. The event attracted numerous biopharmaceutical enterprises and representatives from more than 20 leading investment and financing institutions. It received enthusiastic responses from attending companies and earned widespread recognition from local government authorities, pharmaceutical companies, and investment and financing institutions.

“Huandong Plaza · Venture Capital Living Room” Inaugural Event

Moving forward, Huandong Plaza also plans to center its efforts on enterprises within the industrial park. Under the guidance of relevant government departments and with state-owned enterprises providing the platform, it will offer more activities and services such as financial investment and financing matchmaking, commercialization of scientific and technological achievements, expert seminars and salons, intellectual property policy counseling, and science and technology policy guidance. By delivering full-chain, full-cycle investment and financing services to tenant companies, Huandong Plaza aims to support the innovative development of the regional biopharmaceutical industry.

Since its opening in June this year, after a six-month leasing period, the occupancy rate of Huandong Plaza has reached 70%. Building on the success of the previously held “Huandong Plaza · Venture Capital Reception Hall,” the park will adopt a model featuring government guidance, state-owned enterprise platform support, and integration with venture capital.Integrating Core Resources: Projects, Capital, Industry, and Market, implement targeted measures to address the urgent needs of biopharmaceutical enterprises, particularly small and medium-sized technology-based enterprises; promote professional institutions to provide high-quality services to technology companies; facilitate and empower the enhancement of R&D capabilities, the transfer and commercialization of achievements, and the optimization and upgrading of industries in the fields of biomedicine and health, thereby achievingIntegrated Development and Synergistic Efforts of the Innovation Chain, Industrial Chain, Capital Chain, and Policy Chain。

It is reported that, in recent weeks and in accordance with the implementation requirements of the new epidemic prevention and control policies, Huandong Plaza has been continuously promoting the resumption of work and production among enterprises within its industrial park. Currently, the overall work-resumption rate for enterprises in the park has reached 100%.

“We have actively implemented measures in areas such as stockpiling anti-epidemic supplies, managing personnel access, environmental disinfection, and equipment maintenance. Meanwhile, we have developed contingency plans for potential emergencies within the park to provide a stable operating environment for businesses. Additionally, the park is actively helping enterprises maintain supply chain security and stability, while strengthening financing support services for small, medium, and micro-sized enterprises,” said a representative from Huandong Plaza.

Moving forward, the project will continue to advance leasing efforts, covering the remaining limited office spaces and the commercial areas in the podium building. Meanwhile, it will persist in developing the park’s service system, starting from the actual needs of tenant enterprises, and comprehensively build a service framework through five key pathways to deliver practical and effective support to businesses.

1. Industry Investment and Financing Services. The industrial park, in collaboration with various investment and financing institutions, implements enterprise development funding programs to provide production, investment, and financing support to park-based enterprises, thereby driving industrial growth through industrial investment and establishing a closed-loop industrial ecosystem.

2. Industrial Organization FormationBy integrating the digital economy with upstream and downstream supporting facilities and strategic cooperative resources across the healthcare industry chain, and leveraging the background of the life and health sector in the Guangdong-Hong Kong-Macao Greater Bay Area, we aim to seize industrial resources and streamline the supply-demand chain.

3. Establishing an Industrial Service Platform. Focusing on the common technological needs of industries such as the digital economy infrastructure and healthcare, we will collaborate with nearby hospitals, research institutes, and service organizations to jointly establish an industrial service platform for the park, thereby addressing challenges in technical support and integration.

Fourth, build a public service platform. In light of corporate development stages and industry characteristics, we will select a cohort of third-party professional service providers covering business registration and establishment, finance and taxation, legal affairs, intellectual property, science and technology project applications, and software outsourcing, to jointly build a public service platform.

5. Improve the construction of industrial communitiesBy constructing and introducing shared facilities such as mechanical parking garages, public diagnostic and treatment institutions, shared conference rooms, and international health and medical exhibition halls, we aim to enhance the community living, production, and ecological support services for corporate employees, thereby creating a comfortable office environment.

In this brand-new era, revitalized buildings are injecting new vitality into the healthcare industry.

Looking to the future, in the short term, Huandong Plaza will make every effort to attract companies from the upstream and downstream of the biomedical and healthcare industry chain, as well as digital economy enterprises in next-generation information technology, the internet, and related sectors.

Looking further ahead, Huandong Plaza will leverage its strategic location and resource advantages, align closely with industrial development trends at the national, provincial, municipal, and district levels, utilize Yuexiu District’s abundant medical resources to promote industrial agglomeration and integrated development, strengthen industrial operations through government-enterprise collaboration, and establish itself as a model of high-quality industrial infrastructure.

Meanwhile, leveraging the established competitive advantages and management systems of Zhujiang Industrial Group and Tongchuang Group, and integrating the unique value propositions of Huandong Plaza, we aim to promote the development of enterprises within the industrial park, foster a more robust industrial chain, steadily enhance the quality of park development, and generate substantial economic and social benefits. As a flagship project demonstrating the collaborative model of joint construction and operation by state-owned enterprises and high-quality operational entities, this initiative will accumulate valuable experience for future upgrades and transformations of industrial carriers using this cooperative approach.