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A total of 63 projects valued at 19.6 billion yuan ($2.9 billion) were sealed at the trade fair of the 13th Zhang Zhongjing Medicine Culture Festival held in Nanyang on Sept 28.
Of the total, there are 33 modern industrial projects covering equipment manufacturing, textile and garments, food processing, electro-optical information, and new energy resources and materials. Alongside were 26 service sector projects and four in agriculture.
According to the cooperation agreement, Red Star Macalline Group, a leading domestic enterprise for household items, will establish a commercial complex in the city.
In the meantime, Shanghai Tianyi Group – an investment company centering on healthcare, will launch a traditional Chinese medicine (TCM) science and technology park and health management center integrating TCM and western medicine.
The festival, which has been held 12 times in Nanyang since 2012, not only plays an important role in promoting the culture of TCM, but also in propelling local economic development by attracting investment.