An aerial view of the Guiyang Pharmaceutical Industrial Park. [Photo/WeChat account of Xifeng county]

Guiyang Pharmaceutical Industrial Park is being built in Xifeng county, Guiyang, capital of Southwest China's Guizhou province.

As an integrated health medicine industrial base that combines research and development, production, and sales, the industrial park is set to drive the province's transformation and upgrading in the chemical pharmaceutical industry by promoting industrial agglomeration and forming an industrial cluster.

With a planned area of 4,084 mu (272.27 hectares), the park has already started construction on 771.16 mu of land for chemical medicine projects, with a total investment of approximately 1.95 billion yuan ($269.91 million) and a total building area of 272,600 square meters.

As of now, the park has signed agreements with five companies, including Guizhou Jianye Chemical Co and Guizhou Zhongsen Pharmaceutical Co. Several other enterprises have also signed letters of intent, and it is expected that three to five more companies will set up operations in the park during the second half of this year.

Once all the enterprises in the park set up operations, the park is expected to achieve an annual output value of over 2 billion yuan and generate additional tax revenue of over 150 million yuan, helping to compensate for the shortcomings of Guiyang's chemical raw material medicine industry.