Recently, the Shanxi Provincial Department of Commerce and the Provincial Department of Industry and Information Technology jointly issued the "2024 Action Plan for the Modern Pharmaceutical Industry Chain in Shanxi Province".

This plan aims to solidify the foundation of the modern pharmaceutical industry chain in Shanxi province, strengthen the coordinated development of the chain's upstream and downstream, and enhance the chain's stability and competitiveness.

The action plan proposes the implementation of six key tasks, including "government + park + industry leader" investment promotion, and strengthening the management of key projects. It also involves continuous cultivation of enterprises in the industry chain, enhancing technological research and development capabilities, strengthening financial support for the industry chain, and reinforcing policy support.

It also specifies multiple work requirements to comprehensively promote the high-quality development of the modern pharmaceutical industry in the province.

Last year, Shanxi actively promoted investment in the industry chain and extensively publicized and promoted the modern pharmaceutical industry in the province. It planned and compiled the "2023 Shanxi Investment Promotion Key Projects Catalog", which featured 18 projects related to the modern pharmaceutical industry chain. The province also organized multiple exchanges and cooperation activities for pharmaceutical enterprises, and encouraged relevant enterprises to invest and establish businesses in Shanxi.

The total annual revenue of the modern pharmaceutical industry chain in the province reached 30.6 billion yuan ($4.25 billion) in 2023, exceeding the annual target.