Hefei is a subcenter city in the Yangtze River Delta region, also a highland for the development of artificial intelligence industry. [Photo/WeChat account: hefeigaoxinfabu]

China's Yunnan Baiyao Group announced that it will launch a new research and development (R&D) and production base at the Hefei National High-tech Industry Development Zone at a signing ceremony held at the zone on Nov 3.

Yunnan's first listed company, Yunnan Baiyao is ranked first in terms of innovation capacity among the country's 1,128 time-honored brands. According to Dong Ming, CEO of Yunnan Baiyao, the company has witnessed sharp revenue growth over the past 20 years.

Dong added that Yunnan Baiyao will increase investment in Hefei to promote the high-quality development of the medical apparatus and instruments industry.

Song Daojun, director of the administrative committee of the Hefei high-tech zone, said at the signing ceremony that the zone's biomedical industry has maintained steady growth and is now home to about 400 high-tech biomedical enterprises that have created a complete industrial chain covering R&D of bulk pharmaceutical chemicals, innovative medicines, high-end medical equipment, pharmaceutical manufacturing, pharmaceutical services and testing.

Headquartered in Southwest China's Yunnan province, Yunnan Baiyao is a time-honored brand famous for producing baiyao, a white powder used to stop bleeding and relieve pain.