A forum on the study and development of pharmaceuticals was held in Shangyu, a county-level city in Shaoxing, Zhejiang province, on Oct 31.

Representatives from more than 100 famous bio-pharmaceutical enterprises across the country, as well as dozens of academics and scholars, attended the forum to discuss how to promote the innovative development of the pharmaceutical industry under the auspices of the integration of the Yangtze River Delta region.

Four projects worth over 5 billion yuan ($711 million) were signed during the forum.

Shangyu authorities said at the forum that they have been accelerating the establishment of an integrated, high-end, intelligent and eco-friendly modern pharmaceutical industry system in recent years, and will continue to improve business climate in the future. 

They also expressed their hope that entrepreneurs, investors and academics will support the development of the pharmaceutical industry in the city.

Academics and scholars shared their ideas on several cutting-edge pharmaceutical technologies and discussed new solutions and thoughts on R&D.

According to Shangyu authorities, the Hangzhou Bay Shangyu Economic Development Zone has so far introduced more than 40 pharmaceutical companies, generating sales of over 15 billion yuan last year. They planned on doubling those figures by 2021.