The production value of China’s bio-medicine industry amounted to 2.1 trillion yuan ($338.8 billion) in 2013, up about 18 percent year on year, the country’s top economic planner announced on Monday.

Zhang Xiaoqiang, vice director of the National Development and Reform Commission, said the country was accelerating its research and development of new medicines, new types of plants and animals and new material products.

“In 2014 and 2015, China should strive to promote biological development including bio-pharmaceutical, bio-agriculture and bio-energy,” said Zhang at a news briefing ahead of a biological industry national conference.

Yang Shengli, honorary chairman of the Chinese Society of Biotechnology, said that annual growth of the country’s bio-industrial output is expected to surpass 20 percent in three years.

Initiated in 2007, the 8th national conference on biological industry will be held in the coastal municipality of Tianjin from June 18 to 20 focusing on “developing bio-industry to benefit people”.