Zhang Xiaoqiang, mayor of Taizhou, addresses the opening ceremony at the fifth China Pharmaceutical Industry Development and Supervision Forum, which opened in Taizhou on Sept 20. [Photo/taizhou.com.cn]

The next five to 10 years will be a critical period for the development of the pharmaceutical industry in China as well as a period of great strategic opportunity, noted Xu Runlong, head of the Zhejiang Provincial Drug Administration.

Xu made the comments while addressing the fifth China Pharmaceutical Industry Development and Supervision Forum, which opened in Taizhou on Sept 20.

Zhejiang has been making efforts to develop its pharmaceutical sector, and Taizhou is at the heart of those efforts, he said.

He also stressed the role of government supervision and urged drug regulatory bodies at all levels to strengthen supervision and ensure drug safety.

As the only national base for active pharmaceutical ingredients (APIs) exports, Taizhou is home to a large number of pharmaceutical companies as well as high-end research institutes, according to Zhang Xiaoqiang, mayor of the city.

Nearly 300 products produced by more than 30 companies in the city have been exported to more than 120 countries and regions worldwide.

The pharmaceutical industry is crucial to the growth of the nation's economy and people's livelihoods, said Li Yunlong, executive deputy head of China Association for Drug Regulation.

He acknowledged Taizhou's efforts in hosting the forum, saying that the event is a significant national platform for pharmaceutical industrial cooperation and academic exchange.

The increasingly closer links between colleges and local enterprises will fuel the pharmaceutical sector's growth in Taizhou, said Lai Maode, principal of China Pharmaceutical University.

By 2021, the scale of the pharmaceutical sector in Taizhou is expected to surpass 100 billion yuan ($14.9 billion).