Authorities announce the official launch of the Shanghai Big Health Industry Center affiliated to the China Technology Exchange on July 8. [Photo/chinanews.com]

The China Technology Exchange (CTEX) announced its opening of the Shanghai Big Health Industry Center on July 8.

The new center, a joint effort of CTEX and Shanghai Tuxi Health Technology Co, will be located in the Shanghai Hongqiao Central Business District and covers an area of around 5,000 square meters.

The center will focus on the health industry and will provide various services related to technology and finance, including patent valuation, technological transactions, investment and fund raising.

Zhang Ye, president of the center, said that it is expected to be at the forefront of cutting-edge technological development in the health industry and it aims to develop the center into a world-class platform for the growth of the industry in China.

Leaders at CTEX also agreed that the new center will improve the quality and promote the development of Shanghai's and even the country's health industry.

The CTEX, founded in 2009, is the only national-level organization focusing on intellectual property and technology transactions in China. It was jointly established by the Ministry of Science and Technology, the State Intellectual Property Office, the Beijing Municipal Government, and the Chinese Academy of Sciences.

Zhang Ye, president of the Shanghai Big Health Industry Center, speaks at the launch ceremony of the center on July 8. [Photo/chinanews.com]

Officials attending the launch ceremony of the Shanghai Big Health Industry Center pose for a group photo on July 8. [Photo/chinanews.com]