The promotion conference. [Photo/Shanxi Daily]

Five cities in North China's Shanxi province signed six projects at the Shanxi (Bohai Rim) Biomedical Industry Promotion Conference that was held in Tianjin on April 25, with a total investment of 1.68 billion yuan ($231.89 million).

The Bohai Rim region boasts a leading cluster for China's medical and pharmaceutical industries, with its industry scale and technological strength that is at the forefront of the country. The promotion conference in Tianjin aimed to strengthen the exchanges and cooperation between Shanxi and the Bohai Rim region in the biomedical industry.

"Biomedicine, as a key industry fostered for the revitalization and upgrading of manufacturing in the province, has achieved rapid development in recent years," said Hu Yong, deputy secretary-general of the Shanxi Provincial Government. Hu expressed the hope that participating guests at the conference would continue to be actively engaged in exchanges and cooperation to further promote the transformation of innovative scientific and technological achievements in Shanxi's biomedical field.

The signing ceremony. [Photo/Shanxi Daily]

Xu Jian, director of the Shanxi Provincial Bureau for Investment Promotion in the Bohai Rim region, stated that this promotion conference focused on the supporting needs of the upstream and downstream biomedical industrial chain in Shanxi. It also aimed to strengthen collaboration in terms of enterprise clusters and industrial resources between the two regions.

In recent years, Shanxi has included modern medicine as one of the first key industries to be further cultivated. Currently, there are 116 medical and pharmaceutical enterprises above designated size in the province. In 2023, these enterprises achieved a total revenue of 29.8 billion yuan, representing a year-on-year growth of 6.7 percent. 

This has led to the establishment of a relatively complete medical and pharmaceutical industrial system that covers chemical drugs, traditional Chinese medicine, biological products, medical materials, and medical devices in the province.