On October 19, the 2021 Fortune Global 500 Summit kicked off in Hangzhou, Zhejiang. Nearly 700 entrepreneurs, executives and renowned scholars gathered together to discuss the roles of enterprises and their social responsibilities under the circumstance of COVID-19 pandemic. Among them was Li Chuyuan, Chairman of Guangzhou Pharmaceutical Holdings Limited (GPHL), the world's first Chinese company to enter the Fortune Global 500 with traditional Chinese medicine (TCM) as its major business.

"COVID-19 pandemic is indeed a crisis but there are also opportunities arising from it. On one hand, people have become more aware of health care, hence they invest more in health issues," said Li Chuyuan, "On the other hand, effective practices and solutions emerge amid the outbreak of the pandemic since global pharmaceutical enterprises join hands together to promote innovations in technological R&D and business models."

At the Summit, Li Chuyuan introduced GPHL's efforts in the fight against the pandemic and made a detailed description on the significant role TCM plays on global health care. Meanwhile, Li also shared his insights into the development tendency of TCM and stressed the importance of crossover cooperation, which is the reason why GPHL proposed "Trendy TCM" to reinvigorate TCM by virtue of modern technologies and marketing methods.

In his point of view, TCM enjoys a promising future since it can deeply integrate into people's daily lives through crossover innovation and cooperation. "Cooperation with various industries is a novel pathway for TCM to revive in the post-pandemic era," he said.

In particular, Li Chuyuan emphasized that based on domestic and international dual-circulation development patterns, GPHL will be committed to improving people's health care, reducing medical costs and providing more TCM solutions for public health around the world.

Authors: Monica & Nancy (Nancy)

Editors: Olivia & Jerry