Mon, 25 Jan 2021

Herbal medicine industrial park opens in NE China

30 Nov 2020, 21:18 GMT+10

HARBIN, Nov. 30 (Xinhua) -- An industrial park processing herbal medicines imported from Russia has been put into operation in northeast China's Heilongjiang Province.

The industrial park in the Suifenhe sub-area of the Heilongjiang Pilot Free Trade Zone (FTZ) has seen the registration of six herbal medicine processing companies, according to local authorities.

With a total investment of 339 million yuan (about 51.46 million U.S. dollars), the park will have an annual medicine processing capacity of 165,000 tonnes.

A new policy allows herbal medicines, such as ginseng and licorice, from Russia to be processed in the Suifenhe area of the FTZ.

Imported drugs can be unloaded, primarily processed and sold directly in Suifenhe, thus helping companies reduce costs, said Wang Tengli, general manager of a local pharmaceutical trading company with an annual processing capacity of 2,000 tonnes.

The Heilongjiang FTZ, inaugurated in August 2019, has three sub-areas, with one in the provincial capital of Harbin and the other two in the cities of Heihe and Suifenhe on the China-Russia border.

Since it began operations, the Heilongjiang FTZ has taken a series of measures to attract enterprises, including promoting online services to attract companies to register, improving its business environment, and cutting costs for foreign trade enterprises.

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