A forum on fair trade and industrial cooperation in the Yangtze River Delta biomedical industry is held in Shanghai on Dec 12, 2019. [Photo/sww.sh.gov.cn]

The first fair trade and industrial cooperation development forum in the Yangtze River Delta biomedical industry was held in Shanghai on Dec 12.

Under the guidance of Shanghai Municipal Commission of Commerce, the China Chamber of Commerce for Import and Export of Medicines and Health Products, and China Medicinal Biotech Association, the forum was hosted by Shanghai Biopharmaceuticals Industry Association.

Biomedicine is a new high-end technology industry which is developing rapidly around the world. It is the main direction of China's strategic emerging industry, and also one of the three key industries Shanghai is striving to develop.

The Yangtze River Delta region is home to major leading enterprises and industrial parks in China's biomedical industry, which has a high concentration and large industrial scale.

As an important research and development and production base, and an import and export port for biomedical products in China, Shanghai has witnessed steady growth in industrial scale and foreign trade in recent years.

From 2014 to 2018, the total industrial output value of the biomedical manufacturing industry in Shanghai had a compound annual increase of 7.7 percent, and the export delivery value of the pharmaceutical industry had a compound annual growth rate of 10.8 percent.

However, in the face of changes in the international and domestic situation, the biological medicine industry in the Yangtze River Delta is facing increasing international economic and trade risks and challenges.

The forum focused on regional and international economic and trade risk prevention in China's biomedical industry, and explored a new path for the biomedical enterprises and industries in the Yangtze River Delta to jointly cope with international economic and trade risks and boost industrial development.

Nearly 200 people from the Chinese biomedical industry participated in the forum.