The project signing ceremony. [Photo by Yang Biao/China News Service]

Guangxi Zhuang autonomous region will devote more efforts to attracting investment in the biomedical industrial chain amid efforts to establish a modern biomedical industry system, local officials announced during a June 2 conference.

Guangxi enjoys unique advantages in developing medical industry, as it has 7,506 kinds of traditional Chinese medicine resources, among the most in the country. It is also a major channel for importing TCM materials from ASEAN countries, with TCM materials imported via Guangxi accounting for 60 to 70 percent of China's total.

The region has regularly cooperateds with ASEAN countries and the World Health Organization.

Officials pointed out that Guangxi's biomedical industry still has a shortage of labs in core links of the industrial chain compared with other local advantageous industries.

Platforms such as Fangchenggang International Medical Opening-up Pilot Zone shall be taken full advantage of in cultivating industrial giants, and industrial backbone enterprises are encouraged to form innovation consortiums with upstream and downstream enterprises, universities and research institutes to boost the integrated development of industrial and innovation chains.

Meanwhile, the Beibu Gulf Economic Zone will receive support in working with the Guangdong-Hong Kong-Macao Greater Bay Area and take an active part in undertaking industrial chain cooperation with the Greater Bay Area to accelerate the formulation of an industrial transfer center.

In addition, 15 biomedical project agreements, such as Shenzhen Gufang Chinese Medicine Food's project in Guilin, were signed during the conference, with a total investment of 5.22 billion yuan ($785.32 million).