A launch ceremony for the Binhu Alliance for Technological Innovation in Healthcare Industry is held in Binhu district, Wuxi, Jiangsu province. [Photo/WeChat account: wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province launched an alliance for technological innovation in healthcare industry on Dec 17.

Members of the alliance include industry-leading companies, research institutes, and medical institutions in the district. Wuxi Genesis Medical Devices Co holds the rotating presidency of the alliance.

Lu Jun, general manager of Wuxi Genesis Medical Devices Co, said the company will cooperate with other members to build the alliance into a platform that facilitates communication between industrial and academic sectors, gives full play to talents and technologies, as well as generates excellent projects.

Jiangnan University, which is located in Binhu, will leverage its strengths in talents and scientific research, and enhance cooperation with other members of the alliance, said Zhang Guangsheng, assistant to the principal of the university.

Binhu district government will introduce favorable policies, create an enabling business environment, and help optimize allocation of resources to promote the high-quality development of its healthcare industry.

In the past five years, the healthcare industry in Binhu has been growing exponentially with an annual growth rate of 20 percent. In 2021, the number of companies involved in the sector in Binhu increased to 199, including three that are listed on the stock market. The gross output of the industry this year is expected to reach 14 billion yuan ($ 2.20 billion).