A launch ceremony of the International Alliance for Stem Cell and Precision Medicine Industrialization is held in Guangzhou, capital city of Guangdong province, on March 29, 2016. [Photo provided to chinadaily.com.cn]

An international alliance for stem cell and precision medicines was established in Guangzhou, the capital of Guangdong province, on Tuesday, aiming to facilitate international exchange and promote the global industrial development of stem cells.

"We need to strengthen cooperation with international players in the stem cell industry, an emerging sector with huge potential market growth," said Chen Haijia, director of Guangdong Stem Cell and Regenerative Medicine Association.

According to Chen, also chairman of Guangzhou Saliai Stem Cell Science and Technology Co Ltd, China's stem cell industry is expected to grow rapidly in the years ahead, as applications of the stem cell science would help promote a healthy industrial development for the country.

"China is still backwards in the downstream chain develpment of the stem cell industry due to lack of favorable government policies, wide public knowledge of the industry and sufficient international exchange," said Chen.

According to industrial figures, the Chinese market value of the stem cell industry will reach nearly $100 billion by 2020.

"We need to cooperate more with global players to build a global stem cell and precision medicine ecosystem," said Chen.

As China's first cell stem company listed on the National Equities Exchange and Quotations, known as the New Third Board, Guangzhou Saliai Stem Cell Science and Technology Co, which was founded in 2009, has developed an international research and development team in the stem cell industry.

According to Liu Wei, vice-director of Guangdong Science and Technology Department, the province has invested about 200 million yuan ($30.7 million) in stem cell research and development, as well as applications of stem cell technology over the past two years.

"The stem cell industry will be part of Guangdong's strategic industrial development, and we have already built several research and development platforms on the industry," said Liu.



