The inauguration ceremony for the Chongchuan life and healthcare industry development promotion association was held on May 30.

The association aims to deepen cooperation and communication between the government and enterprises, as well as among businesses in Chongchuan, Nantong, East China's Jiangsu province.

It will also help attract high-quality enterprises and talented individuals to the district as well as promote the development of the local life and healthcare industry.

In recent years, the district has strengthened efforts to boost the industry and regards it as an industrial priority that should be developed.

Chongchuan is currently home to about 100 companies engaged in new drug research and development, innovative medical devices, precision medicine, in-vitro diagnostics, and genetic testing.

Four of them have been recognized as provincial potential unicorn enterprises.  

A "potential unicorn" means a China-registered company set up within the last five years with a valuation reaching $100 million, or a company set up for five to nine years valued at over $500 million.

The inauguration ceremony of the association is held in Chongchuan district. [Photo/WeChat account: chongchuanonline]