Shanghai's Putuo District is aiming to become a leader in the life and health industry, setting ambitious goals for growth and innovation.

The district unveiled a new version of its Life Health Industry Policy on Friday to further support companies in the sector, address key challenges, and help businesses stand out in a competitive market.

The life and health sector in Putuo has shown significant development. The area now features a strong presence in two main fields: pharmaceutical distribution and sales and digital health services, Wang Jue, deputy director of Putuo, told the Life Health Industry Promotion Conference.

The Life and Health Industry Alliance, formed in 2021, has played a key role in driving growth. The district has worked to integrate funding, talented personnel, innovation and industry development.

Tax revenue from the life and health industry in Putuo reached 751 million yuan (US$103 million) from January to October 2024, a 26 percent increase compared to last year.

The number of life and health companies in the district has increased to 2,914 from 2,665 over the past four years.

Putuo is also collaborating with universities and research institutions. The district signed agreements with Tongji University and other organizations to strengthen cooperation in talent development, technology research, and commercialization.