Jinan spotlights development of medical device industry

An industrial park for medical device companies overseen by Jinan Medical Center in conjunction with Haiping Group opened on Sept 16 in Jinan, Shandong province, in a bid to further promote the development of the city's medical device industry.

The industrial park aims to create a comprehensive platform integrating functions such as R&D, production, sales and services.

Over 300 medical device companies and supporting firms are expected to settle in the park after it is completed, with an expected annual output of over 10 billion yuan ($1.37 billion).

Song Guangzheng, chairman of Haiping Group, said the group has built five professional medical device industrial parks, and has rich experience in helping companies to expand. He added that more companies are welcome to operate in this park.

Established in 2013, Haiping Group is a medical device industrial park investment service operator and has been committed to promoting the regional development of the medical device industry.

As China is rolling out its Healthy China Initiative, the medical device industry is seeing a blue ocean market with strong demand and huge scale.

Though still in the early stage of development, the industry boasts huge market potential. The medical device industry is one of the four pillar industries Jinan Medical Center is fostering.

With joint efforts from both sides, this industrial park will enhance companies' development in a range of areas such as technology innovation, quality upgrading and accelerated production.