SMIC building in the Zhangjiang Science City [Photo/WeChat account: gh_01c6f7b4cf3d]

Shanghai's sci-tech hub Zhangjiang Science City has recently seen a string of local companies getting listed on the Shanghai Stock Exchange's sci-tech innovation board, also known as China's Nasdaq-style STAR market.

Statistics show that 11 Zhangjiang companies have been list since the board opened July 22, 2019. These companies are mainly from industries such as integrated circuits (IC) and biomedicine.

On July 16, chip maker SMIC, which is headquartered in Zhangjiang, made its STAR debut and raised 53.23 billion yuan ($7.63 billion), setting an IPO record on the sci-tech board and China's A-share market.

SMIC president Zhou Zixue said the company will utilize the capital from IPO to accelerate innovative R&D.

In 2019, Zhangjiang's IC industrial revenue reached 104.5 billion yuan, accounting for more than 60 percent of Shanghai's total. At the beginning of this year, an IC design industrial park was launched in Zhangjiang, attracting a number of IC companies covering the whole industrial chain.

On July 22, Shanghai-based pharmaceutical company Sunshine Guojian saw its share price rise by 90 percent on the first day of trading, achieving a market capitalization of 30 billion yuan.

According to the construction management office of Zhangjiang, the zone is now home to more than 600 biomedical companies. In 2019, the total revenue of the regional biomedical industry reached 84.5 billion yuan. The construction of a number of innovative drug industrial bases and industrial parks has helped the zone industrialize new drugs.

Sunshine Guojian building in the Zhangjiang Science City [Photo/WeChat account: gh_01c6f7b4cf3d]