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China's top medicine company attracted to ITL Park

(chinadaily.com.cn)

Updated: 2018-11-05

A ceremony was recently held in Xi'an International Trade and Logistics (ITL) Park to mark the opening of the Sinopharm Medicine Holding Northwest Medical Health Headquarters.

China's top medicine company attracted to ITL Park

An unveiling ceremony is held for Sinopharm Medicine Holding Shaanxi Co. [Photo/itl.gov.cn]

The headquarters was built by Sinopharm Holding Co, a subsidiary of China National Pharmaceutical Group, which is listed among the top 500 enterprises in the world. The company was established in January 2003 with a registered capital of 2.77 billion yuan ($400.38 million) and was listed on the HK Stock Exchange in 2009.

It has become a leading distributor and retailer of pharmaceuticals and healthcare products in China and is a leading provider of supply chain services.

ITL Park and Sinopharm Holding Co have been cooperating in key areas such as pharmaceutical health, modern logistics and headquarters economy in order to promote the optimization and upgrading ITL Park's industrial structure.

Sinopharm Shaanxi Co set up a base in ITL Park this year in order to make better use of the park's warehousing, distribution and office resources in the medical and health industry. It also established Sinopharm Medicine Holding Xi'an Co to aid in the construction of the Sinopharm Holding Northwest Medical Health Headquarters and logistics hub platform project.

The project, carrying a cost of about one billion yuan, is divided into a headquarters office area and a logistics distribution area. The headquarters' business network includes Inner Mongolia autonomous region, Xinjiang Uygur autonomous region, Ningxia Hui autonomous region and provinces of Gansu, Qinghai and Shanxi.

After it is put into operation, the headquarters is estimated to produce an annual revenue of about 10 billion yuan, with about 300 million yuan in profits, and will provide approximately 1,500 jobs.

Yang Yi, deputy director of the management committee of ITL Park, said that the headquarters will greatly promote the development of the park's pharmaceutical health industry.

China's top medicine company attracted to ITL Park

Sinopharm Medicine Holding Shaanxi Co's unveiling ceremony. [Photo/itl.gov.cn]

It is hoped that Sinopharm Medicine Holding Shaanxi Co and Sinopharm Medicine Holding Xi'an Co, along with Shaanxi PaiAng Pharmaceutical Co, will attract more industries to enter the park and help to form the largest medical and health industry center in the northwest, she added.

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