Angioexpert, a leading medical manufacturer in Russia opened a new branch in Yantai Economic and Technological Development Zone on April 30.

The company plans to invest $20 million to explore the Chinese medical equipment market. It aims to develop into an industrial base of interventional cardiology products integrating R&D and sales.

Officials said that the biomedical industry is one of the major emerging industries in the zone. The zone has gathered a series of outstanding enterprises and provided an innovative business environment for entrepreneurs to start up.

In recent years, the area has attracted 1,500 foreign-invested companies from 45 countries and regions and 88 Fortune Global 500 projects.