The county-level city of Zhangjiagang in East China's Jiangsu province plans to develop its biomedical industry. [Photo/zjgonline.com.cn]

Zhangjiagang in East China's Jiangsu province plans to build a pharmaceutical industry park to develop finished drug products, biological medicines, medical apparatuses and instruments, according to a news conference held in the city Oct 31.

The park, which has a planning area of 167 hectares, is expected to develop into a leading industrial base for biomedicines in the Yangtze River Delta region, according to Weng Yuren, an official of the city's bonded zone.

Local authorities said the city's convenient transport network and improved business environment have contributed to the development of Zhangjiagang's biomedical industry.

The Shanghai-Suzhou-Nantong Yangtze River Bridge, which was opened to the public in July, will help Zhangjiagang form a new development model by taking full advantage of the port and railway, creating a multimodal transport network composed of highways, railways and waterways.

Additionally, the city's bonded zone offers an array of favorable policies for the development of the biomedical industry.

As the country's top 100 strongest counties, Zhangjiagang boasts a solid foundation for the biomedical industry, such as Yangtze Metallurgical Industrial Park. There are 32 Global Fortune 500 companies in the city, which will help biomedical enterprises in Zhangjiagang lower business operating costs.

The global biomedical industry has witnessed sharp growth in recent years, and its output value is expected to exceed $38 trillion by 2030. China has recently put more emphasis on accelerating the development of its biomedical industry, according to an industry insider.

The biomedical industry in Zhangjiagang has shown rapid growth in the past 10 years, with an annual growth rate of more than 16 percent. The city housed 2,195 healthcare companies in 2019, and a complete industrial layout related to medical apparatuses and instruments has initially taken shape in the city.