The Huang-Bohai New Area in Yantai, East China's Shandong province pushes forward the development of emerging industries. [Photo/Yantai Daily]

The Huang-Bohai New Area in Yantai, East China's Shandong province is pushing forward the development of emerging industries.

Shandong Simcere Bio-Pharmaceutical announced the start of the construction of an international pharmaceutical industrial park on Aug 23.

"We have been expanding in Yantai for 24 years, and have seen growing revenues and great potential," said Chen Qianjie, general manager of the company.

With the aim of better meeting market demands and introducing the industrialization of other innovative drug products under development, the company invested $300 million to build this industrial park. After completion, it is expected to become the group's innovative drug R&D and production plant, and recombinant gene protein drug production and research base.

The Huang-Bohai New Area has been seeking to foster a world-class biomedicine industry. It is now home to over 120 biomedicine companies, among which are four listed companies. The area's biomedical park has been ranked 21st in the list of top 100 biomedical industrial parks released by CCID Consulting, and eighth in the top 10 R&D innovation sector.

In recent years, the Huang-Bohai New Area, which is focused on various emerging industries such as aerospace, navigation, green electricity and green energy, has seen fruitful results in attracting investment and companies.