2021 was a crucial year for the implementation of the three-year action plan for state-owned enterprise (SOE) reform. "As a Fortune Global 500 company in 2021, GPHL has made full use of its advantages as China's largest pharmaceutical company and largest Chinese patent medicine manufacturer to deepen the reform by leading the Chinese medicine industry to achieve high-quality development and revitalizing time-honored brands," GPHL deputy managing director Cheng Ning said at the special press conference for Guangzhou state-owned assets and enterprises' implementation of the three-year action plan for reform.

On December 17th a ceremony to mark the completion of construction and start of production of GPHL International (Macau) Pharmaceutical Factory as well as a plaque unveiling ceremony for the Joint Laboratory for Industrialization of Chinese Medicine was held in Macao. This pharmaceutical factory is Macao's first Chinese medicine pharmaceutical factory in compliance with Good Manufacturing Practice (GMP), making new progress towards TCM cooperation between Guangdong and Macao.

"GPHL continues to deepen the reform of time-honored brands' systems and mechanisms, launch 'Trendy TCM' products, and make established brands appeal to younger consumers." Cheng Ning believed that after being included in the latest Fortune Global 500 list, GPHL will seek to become a world-class biomedical and healthcare enterprise, making new contributions to China's high-quality economic development.

In addition, GPHL takes the initiative to strengthen the overall industrial chain layouts of the Chinese medicine industry, deepen the reform of time-honored brands' systems and mechanisms, and keep revitalizing established companies for their development.

Cheng Ning indicated that GPHL had completed the share-trading reform and professional manager reform of Guangzhou Pharmaceuticals Co., Ltd., and its application for the spin-off of this subsidiary was approved by China Securities Regulatory Commission, which will help further integrate the pharmaceutical commerce resources from established companies, such as Jianmin and Caizhilin, to expand and strengthen the pharmaceutical commerce segment.

Authors: Monica & Michelle

Editors: Olivia & Jerry