General Electric (GE) broke ground on its latest project at the Sino-Singapore Guangzhou Knowledge City on June 23, which will see the Guangdong province capital become home to a world-class biological medical ecosystem.

The project has a planned area of 350,000 square meters for its first phase, with a total investment of $800 million from the Guangzhou Development District, GE and a biopharmaceutical enterprise.

The joint venture will be a monoclonal antibody medicine manufacturing base. Upon completion, the campus is estimated to reach an annual output value of between $4 billion and $8 billion.

Guangzhou is now vigorously developing strategic emerging industries including new-generation information technologies, artificial intelligence and bio-pharmaceuticals, promoting the city as a comprehensive hub for scientific and technological innovation, according to Ren Xuefeng, Party chief of Guangzhou.

It's GE's first biotechnology park in Asia and will help Guangzhou to develop a world-class city in the life health sector, said the report.

Guangzhou Development District is home to 600 enterprises in biological medicine and health sector, which registered operation revenue totaling 52.3 billion yuan ($7.65 billion) in 2016, accounting for over 50 percent of the city's total.

GE's Bio-campus takes ground in Guangzhou, South China's Guangdong province, on June 23. [Photo provided to chinadaily.com.cn]

Covering an area of 350,000 square meters for its first phase, the project is expected to reach an annual output value of between $4 billion and $8 billion upon completion. [Photo provided to chinadaily.com.cn]