The Wuhan East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) launched the Life Health Industry Supply Chain Alliance on Aug 16, with over 40 companies and institutions participating and signing agreements worth a total of 5.4 billion yuan ($757.05 million).

This alliance builds upon the existing strengths of platform companies like Sinopharm Group and Jiuzhou Pharmaceutical Supply Chain, while also incorporating the Hubei Science and Technology Innovation Supply Chain Platform and key life health enterprises, research and development institutions and financial institutions in OVC. The alliance aims to facilitate the innovative allocation of production factors and promote collaborative development across the entire industrial chain.

OVC launches the Life Health Industry Supply Chain Alliance. [Photo/WeChat account of Optics Valley of China]

"The alliance provides us with an opportunity to work with leading life health companies from around the world," said Liu Jingyun, chairman of Sinopharm Group Hubei Co, a member of the alliance. "By adopting a supply chain mindset, we can work together to solve development challenges and achieve new growth."

OVC boasts comprehensive strengths in the life health industry, ranking among the top five in China and first in the central region. The zone is home to over 20 national-level key platforms, including national key laboratories and national enterprise technology centers. These platforms have cultivated a large number of high-quality enterprises, propelling the industry to a scale exceeding 150 billion yuan.

OVC's life health industry is currently accelerating towards a period of harvest, transformation, and breakthrough. This requires a focus on developing the supply chain, restructuring the industrial chain, and enhancing the value chain.

The alliance further deepens cooperation between OVC and renowned domestic and international enterprises, providing a platform for mutual understanding and deepening exchanges, and bringing new opportunities for the development of the life health industry.