According to Xu, the company created 3.2 billion yuan of production value last year, ranking it the largest among Chinese pharmaceutical companies. Its production value was only 1.67 billion yuan in 2011 before the completion of the new factory.
Xu predicted the production value will reach 4 billion yuan by the end of this year.
As the competition from both domestic and overseas markets is rising in making cephalosporin products, the company's profit is increasing at a slow pace, said Xu. "To address the challenge requires better research and technology based on independent intellectual property rights."
Huamin Pharmaceutical's cephalosporin products have been exported to the European Union and countries in South America.
"Our product catalog is adjusting toward the international markets based on the improvement in our technology," Xu added.
China Shijiazhuang Pharmaceutical Group Co Ltd invested 16 billion yuan in the economic zone to develop its research center and expand production. The Shijiazhuang No 4 Pharmaceutical has invested 1.4 billion yuan.
By the end of 2012, about 40 enterprises in the bioengineering and pharmaceutical industry had settled in Gaocheng's economic zone, realizing 43.5 billion yuan in output value, more than half of the total in the area.
Coca-Cola, Tsingtao, Archer Daniels Midland Co from the United States and Wilmar International Ltd from Singapore have launched product lines in the industrial park.
So far, the total investment of infrastructure construction of the economic zone has exceeded 3 billion yuan, according to Li Huaqiang of the working committee.
Enterprises in this area have provided about 100,000 jobs. Some 10 percent of the workers are from the county.
A report from the Institute of Industrial Economics in the Chinese Academy of Social Sciences showed in June that the growth pace of the county economies has remained faster than the nation's average level since 2008.
In 2010, the GDP of all the counties accounted for 49.8 percent of the nation's total. The trend for increasing growth still remains, according to the report.
Han Dongxue, a professor from Tsinghua University, said it is a good model to improve the county economy by promoting industrialization, which is also a driving force of urbanization.
"The successful development of county economies based on industrial agglomeration will help improve livelihoods and rebalance the rural-urban development," Han said.
Elder couples celebrate golden wedding anniversary in Hangzhou
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