Established in 1669 and with a history of more than 330 years, Beijing Tong Ren Tang, China’ s leading producer of traditional Chinese medicine, intend to tap the overseas market. Tong Ren Tang plans to set up 30 joint ventures and 100 pharmacies overseas by the year 2005. It has signed cooperative agreements with firms in Malaysia, Canada, Indonesia and the Republic of Korea recently. And it will open Tong Ren Tang pharmacies in these countries early 2002. At present, Tong Ren Tang has five joint-venture companies overseas to handle local sales as well as several pharmacies in the Hong Kong Special Administrative Region, Britain, the United States, Australia and Thailand. The pharmacy in Thailand, which began a trial operation in February 2001, has been welcomed by Chinese in Southeast Asia and has begun to make a profit. Brisk overseas business has helped the company increase its foreign cp exchange earnings}s to more than US$10 million in 2001, compared with US$1.9 million in 1993, when it began to do overseas trade by itself and the first joint venture was established in Hong Kong. The aim of Tong Ren Tang is by 2005the sale volume of exported products will amount to 500 million yuan (US$60 million) and foreign exchange earnings will reach US$60 million, with an annual increase of 46.8 percent. Tong Ren Tang’s existing co-operation with overseas firms largely involves trading. But now it is considering moving into the manufacturing sector. It will first do packing in some areas and then realize the localization of production step by step in two to three years. According to the State Drug Administration, global sales volume of herbal medicines is as high as US$30 billion, increasing 10 per cent yearly basis. Whereas China’s products account for only 3 t0 5 per cent, and 80 percent of traditional Chinese medicine traded on the world market is raw materials. The lack of standards and accurate statistics on ingredients and effectiveness is a major factor traditional Chinese medicine from entering the global market. Europe and the United States have set strict restrictions on imports of herbal medicine. Researchers at Tong Ren Tang best quality medicines-. ‘Production of medicine must be in accordance with the maps. This will help the company push the products to reach global standards. In addition, Tong Ren Tang is conducting new research on traditional recipes and developing new products to cater to the international market. Despite traditional Chinese medicine like bolus, Tong Ren Tang is now able to manufacture products in many ways, including liquids, tablets, soft and hard capsules, drops and granular preparations, in accordance with customers’ demands. Tong Ren Tang medicine is being recognized by more and more Westerners, though its major market is still Asia. It aims to make the reputation of the Tong Ren Tang brand world wide. It listed in the Shanghai stock market in 1997. Its Technologies Co Ltd li: listed in the Hong Kong Growth and Enterprise Market in 2000:’ Manufacturing more than”800 kinds of medicine, Tong Ren Tang had sales volume of 3 billion yuan (US$362 million) in 2001.
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