The signing ceremony of Huai'an project of Xiuzheng Pharmaceutical Group was held in Huai'an County on Nov. 10.

With a total investment of about RMB 10.6 billion, the project will construct a national drug sales settlement center and develop pharmaceutical preparations, food therapy, functional food, and related supporting industries. The first phase of the project, with a total investment of about RMB 5.5 billion, will build a green and intelligent biomedical production base and a national drug sales settlement center that meet the new GMP standards, and a first-class intelligent digital production line. The first phase project, when completed, is expected to generate an annual output value of five billion yuan and tax revenue of 600 million yuan. When the drug sales settlement center is put into operation, the total sales value is expected to reach 20 billion yuan in five years, with the tax revenue exceeding 600 million yuan.