Shanghai's Putuo District is aiming to become a leader in the life and health industry.
The district unveiled a new version of its Life Health Industry Policy on Friday.
It aims to further support companies in the sector, address key challenges, and help businesses stand out in a competitive market.
Tax revenue from the industry in Putuo reached 751 million yuan (US$103 million) from January to October 2024.
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Midsize businesses are tapping into the social business market because large companies do not need the help of start-ups to create a “social technology stack.” But a social business stack cannot generate revenue by itself.