Jinan is seeking innovations to boost the development of its pharmaceutical industry, Wang Zhonglin, Party secretary of Jinan, said in a speech to the China Pharmaceutical Innovation and Development Conference.

Themed on how reform and innovation fuel pharmaceutical industry, the conference was held in Jinan, capital city of East China's Shandong province, on July 16.

More than 2,000 medical experts at home and abroad, government officials and representatives from key enterprises attended. A total of 12 pharmaceutical projects worth 7.4 billion yuan ($1.08 billion) will be launched in Jinan after agreements were signed at the conference.

"Jinan's business climate and development potential are beyond doubt," said Xue Wei, vice-president of Hebei-based Shineway Pharmaceutical Group, who spoke highly of the city's industrial advantages.

One of China's leading private drug companies, Shineway inked a deal with the Shanghe High-end Pharmaceutical Industrial Park for its project on TCM granule preparations, worth 500 million yuan.

Wang said that innovation is playing a key role in driving the city's pharmaceutical industry development. Jinan boasts more than 240 universities and research institutes, as well as more than 40,000 pharmaceutical R&D individuals.

Jinan has attracted more than half of the province's high-quality medical resources, and the growth rate of its biomedical industry exceeds the national and provincial average.

The conference brought more business opportunities to boost the city's pharmaceutical industry. Four academician cooperation projects were also landed in Jinan to help promote its development.

A total of 12 pharmaceutical projects worth 7.4 billion yuan are signed in Jinan at the China Pharmaceutical Innovation and Development Conference on July 16. [Photo/jnrb.e23.cn]

Wang Zhonglin, Party secretary of Jinan delivers a speech at the China Pharmaceutical Innovation and Development Conference on July 16. [Photo/jnrb.e23.cn]