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(16 May 2005, Guangzhou and Hong Kong) Hutchison Whampoa Limited (HWL) sees its traditional Chinese medicine (TCM) business make a big stride, as its joint venture company with Guangzhou Baiyunshan Pharmaceutical Company Ltd (GBP) starts operations today in Guangzhou.

The joint venture company, Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company Limited (HGB), is set to become an international brand name, now that the two companies join hands to manufacture and market traditional Chinese medicine products locally and globally.

HGB has been set up with a total investment of RMB 345 million, with partners GBP and Hutchison Whampoa (China) Limited, a wholly-owned subsidiary of HWL, each holding an equal share.

Speaking at the opening ceremony of the joint venture, HWL Executive Director Mr Dominic Lai said HWL had attached much importance to all of its investments and business developments in the Mainland. HWL saw the medical and health business as one of its major investments, and aimed at marketing TCM to the rest of the world.

Mr Lai said, "To achieve this target, HWL has made a series of strategic investments in the Mainland over the years. Today, we are honoured to join hands with Guangzhou Baiyunshan Pharmaceutical Company Ltd to establish Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company Limited. This marks a great stride forward in our TCM operations.

"The cooperation between Baiyunshan and HWL demonstrates the strength of the two enterprises. This new joint venture will contribute significantly to the expedition of TCM's development and globalisation."

HGB General Manager Mr Li Chuyuan said the joint venture would set up a Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Research Institute, under which six research centres would be formed to focus on the researches and innovation of modern TCM.

Mr Li said the research institute would boast the strongest technological and expertise resources among its counterparts in the Mainland, providing the greatest driving force to the development of the industry.

He said, "We will apply the concepts of education, benevolence, technology, innovation and responsibility to our operations, so that HGB will become a global TCM pioneer."

Also attending today's opening ceremony were Mr Ren Dequan, Deputy Director of the State Food and Drug Administration; Mr You Ningfeng, Vice-governor of the People's Government of Guangdong Province; Mr Lin Yuanhe, Executive Vice Mayor of the Municipal Government of Guangzhou; Mr Simon To, Managing Director of Hutchison Whampoa (China) Limited as well as officials from the state, provincial and municipal governments, delegates from more than 20 universities in the Mainland, Europe and the United States and representatives of Mainland pharmaceutical enterprises.

About Hutchison Whampoa (China) Limited

Hutchison Whampoa (China) Limited, the investment arm of the Group in Mainland China, is actively engaged in a number of ventures and other activities. These investments include the manufacture and distribution of healthcare, personal care and traditional Chinese medicine products, the provision of aircraft maintenance, engineering and cabin cleaning services, the provision of logistics services, the operation of a rice farm and rice trading, hotel ownership as well as the manufacture of optical transmission equipment.

Download (701 KB) HWL Executive Director Mr Dominic Lai (second from left) officiates at the opening ceremony of Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company Limited in Guangzhou today together with Mr Lin Yuanhe, Executive Vice Mayor of the Municipal Government of Guangzhou (third from left); Mr You Ningfeng, Vice-governor of the People's Government of Guangdong Province (fourth from left); Mr Ren Dequan, Deputy Director of the State Food and Drug Administration (fourth from right) and other guests.

Download (630 KB) HWL Executive Director Mr Dominic Lai says the cooperation between Baiyunshan and HWL will speed up traditional Chinese medicine's development and globalisation.

Download (380 KB) Managing Director of Hutchison Whampoa (China) Limited, Mr Simon To (third from right) proposes a toast to the success of Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company Limited at the company's opening ceremony.

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