On the morning of December 14, the Yantai Economic & Technological Development Area Management Committee and Shandong University of Traditional Chinese Medicine (SDUTCM) held a “university-local” cooperation signing ceremony at the Urban Exhibition Center of Yantai Development Area. As part of the signing, Wentao Guo, vice president of Rongchang Pharmaceuticals Ltd., and Zhenguo Wang, vice president of SDUTCM, signed the cooperation agreement on behalf of both parties.

Jibiao Wu, Secretary of the Party Committee of Shandong University of Traditional Chinese Medicine, Qinghua Yan, Deputy Secretary of the Development Area Working Committee, and Jun Chen, Deputy Director of the Management Committee, attended the ceremony. Before the ceremony, Liqiang Wang, CEO of Rongchang Pharmaceuticals, and Minhua Yang, Secretary of the Party Committee of the park, accompanied the guests to visit the Yantai International Biopharmaceutical Valley Exhibition Center.

According to the agreement, the two parties will carry out more pragmatic cooperation in co-constructing an industry-university-research cooperation mechanism, talent training and student employment, recruiting talents, co-constructing employment and entrepreneurship practice bases, technology development and transformation of achievements. At the ceremony, Vice President Zhenguo Wang awarded Rongchang Pharmaceuticals and other companies the plaque of "Shandong University of Traditional Chinese Medicine College Students Employment and Entrepreneurship Practice Base".

Shandong University of Traditional Chinese Medicine is one of the key Chinese medicine colleges and universities in China, and among the first batch to undertake the “973” scientific projects in the country. The number of master's programs of the school ranks among the top of similar institutions in the country. The signing of this cooperation is of great significance to the development of the biopharmaceutical industry in Yantai Development Area. In particular, the establishment of 7 employment and entrepreneurship practice bases for college students in the enterprise will greatly promote the integration of industry and education and the integration of industry and talents. At the same time, it is also of positive significance to the talent cultivation and delivery for Rongchang Pharmaceuticals and other enterprises.