19 Jul 2023 16:25

Guangzhou Pharmaceutical to import medicinal herbs from Russia, Indonesia

GUANGZHOU. July 19 (Interfax) - Guangzhou Pharmaceutical Holdings Ltd (GPHL), one of the leading manufacturers of traditional Chinese medicine (TCM), plans to import nearly 30,000 tonnes of medicinal herbs from Russia and Indonesia in the next five years, China's Xinhua state news agency reported.

A subsidiary of GPHL has signed agreements on purchasing nearly 20,000 tonnes of medicinal herbs in Russia for manufacturing TCM preparations, including licorice, astragalus, and Chinese magnolia vine; and around 10,000 tonnes of medicinal herbs in Indonesia, including frangipani (plumeria). The deals are estimated at about 1.3 billion yuan ($182 million).

GPHL has noted that the transactions should stabilize the prices for medicinal herbs for TCM preparations, and should contribute to sustainably developing the industry.

According to GPHL Deputy General Manager Wu Changhai, many herbs that are common in cold regions grow in Russia, with its climate and rich biodiversity.