Yantai sets an ambitious goal for medical and health sector

The Yantai municipal government has pledged to increase the total value of its medical and health sector to 80 billion yuan ($12 billion), authorities said at a press conference held by the Information Office of the government on Jan 17.

In the past year, Yantai has offered financial rewards to enterprises engaging in innovative development and promoted the establishment of biomedicine research and development service platforms.

For instance, it has offered more than 8 million yuan to seven enterprises for their innovation in medicine and medical equipment. It also granted more than 744,000 yuan to 13 enterprises as rent assistances. So far, construction and decoration of the laboratories of the first five biomedicine research and development service platforms have been completed, and water and electricity, and ventilation facilities are still in the testing phase.

In 2018, the city will invest 9.4 billion yuan to carry out 22 key projects in the sector and build an international bioscience innovation demonstration zone. To achieve that goal, the city will employ high-level professionals to build biomedicine parks and accelerate the construction of 11 international biomedicine public technology service platforms.