A rendering of Wuzhong Group's Life Star River Bay, a life sciences and healthcare industrial park in Qidong, Nantong, Jiangsu province. [Photo/WeChat account: qidongfabu]

At the construction site of the first phase of Life Star River Bay in the Qidong Life and Health Technology Park, half of the 26 buildings have been completed.

Spanning an area of about 12.5 hectares, the life sciences and healthcare industrial park entails an investment of around 1.2 billion yuan ($167.78 million). It is set to host an array of leading enterprises in sectors such as high-end medical equipment, advanced biological products, and pharmaceutical production. The first phase is projected to achieve an annual output value of 500 million yuan and provide nearly 800 jobs.

Yang Yongchao, the project leader, highlighted a distinctive feature of the park, emphasizing its focus on attracting enterprises with specific financial needs. Following comprehensive assessments, the industrial park will invest in relevant enterprises and provide a range of specialized services to assist them. Over 40 companies from Shanghai and the southern Jiangsu region have already agreed to set up operations in the park.

Yang said that Wuzhong Group, the investor, with strategic layouts along the Yangtze River Economic Belt for many years, has successfully established over 20 industrial parks. This marks the group's first industrial park in Nantong. The project contract was signed in March last year and construction started in June. The efficient services have instilled confidence in the company about the business atmosphere and future development of Qidong.