The 17th China Bioindustry Convention – the highest-level and largest-scale event in China's bioindustry sector – is taking place from Sept 4 to 6 in Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC), showcasing OVC's ambition to become a global hub of the life and health industry.

Recent achievements in OVC's life and health industry have been impressive. In the first half of this year, 14 new Class I innovative drugs were approved for clinical trials, setting a three-year high for the same period. Additionally, 28 Class III medical devices received approval, matching the total for the entire previous year.

The 17th China Bioindustry Convention is taking place in OVC. [Photo provided to chinaopticsvalley.com]

Wuhan Healthgen Biotechnology Corp developed the world's first recombinant human albumin injection derived from rice, which has been approved for market. This groundbreaking Class I new drug was officially used for patient treatment on Aug 23, marking a shift from plasma-derived human serum albumin.

Chia Tai Tianqing Pharmaceutical Group has established its first subsidiary in central and western China in OVC, injecting significant momentum into the zone's biopharmaceutical sector. Meanwhile, Shenzhen Forward Pharmaceutical Co is investing nearly 2 billion yuan ($280.13 million) to establish its headquarters in OVC.

The achievement exhibition during the 17th China Bioindustry Convention is crowded with visitors. [Photo provided to chinaopticsvalley.com]

OVC's Biolake, the main base for expanding the biopharmaceutical and high-end medical equipment industries, hosts over 4,200 enterprises, including 531 high-tech companies and three leading enterprises with revenues exceeding 10 billion yuan. It has developed more than 400 Class I new drugs, accounting for 90 percent of Hubei province's total.

Focusing on fostering cutting-edge technology and innovation, OVC is committed to becoming "China's Medicine Valley" and a new global beacon in the life and health industry.