Recently, the International Conference on Pharmaceutical Innovation and Development 2023 was held in Yantai. Famous academicians and experts from around the world in the pharmaceutical field, heads of more than 60 international and domestic well-known pharmaceutical enterprises and more than 40 domestic well-known investment institutions attended the Conference to jointly discuss new opportunities, new directions and new paths for the development of the biomedical industry and embark on a new journey of win-win cooperation.

The Conference was sponsored by Shandong Provincial People's Government, co-organized by Chinese Pharmaceutical Association, China Pharmaceutical Innovation and Research Development Association, China Society for Drug Regulation and Shandong Administration for Market Regulation, and undertaken by the People's Government of Yantai and Shandong Medical Products Administration.

At the opening ceremony, Yantai issued certificates of award to innovative medical device enterprises qualified for industry-supporting policies in 2022, with a total bonus of 136 million yuan. A launching ceremony for the establishment of the first batch of sub-funds for five innovative institutions (including Life Sciences and Medical Health Research Institute, Yantai Stem Cell and Regenerative Medicine Innovation Academy, and DC Pharma National Enterprise Technology Center) and Yantai's biomedical and healthcare industry was held, during which 35 key projects were signed with a total investment of 17.2 billion yuan.