The construction contract for the Xingguang International Precise Medical Innovation Center was officially signed on June 29 by Liangjiang New Area in Southwest China's Chongqing, Shanghai Fosun Pharma and YaoPharma.

Duan Chenggang and Luo Lin, officials of the new area, attended the signing ceremony.

Luo Lin, deputy secretary of the Chongqing Liangjiang New Area Party Work Committee and director of the Chongqing Liangjiang New Area Administrative Committee, delivered a keynote speech, underscoring the healthcare industry as a major front in industrial innovation. The new area has formed the healthcare industrial ecology by collecting outstanding talents, enterprises and promoting medical exchanges and cooperation.

As two dominant bio-medicine firms, Fosun Pharma and YaoPharma possess huge capacities in drug research and development. Their project in Liangjiang is bound to embrace a bright future. The newly-founded center will become a powerful supporting tool for the high-quality development of the new area's healthcare sector, Luo added.

Liu Qiang, president of YaoPharma, said the new center will share the advantages of the two firms in technology, personnel and equipment. A technology transfer platform, an innovation incubation platform and a shared service center will be launched in the new center, which will further boost the bio-medicine industrial scale in Liangjiang.

Fosun Pharma is a leading innovation-driven international healthcare group in China. Fosun Pharma strategically operates businesses in the pharmaceutical and health industry, including pharmaceutical manufacturing, medical devices and medical diagnosis, and healthcare services.