Guangzhou Pharmaceuticals Group, a major player in China’s drugs industry, has announced it is investing US$200 million into establishing its international headquarters in Macau.
The company’s chairman, Li Chuyuan, gave a speech today at a launch ceremony attended by many of Macau’s political and business elite. He pointed out that the new venture “Combines the resources of Guangdong and Macau together in an innovative collaboration of systems and mechanisms.”
The company is being positioned as the “external window” of Guangzhou Pharmaceuticals’ business, to “accelerate the group’s internationalization”. Sources suggested its focus will be on markets in the Lusophone community of Portuguese-speaking countries.
Macau’s Secretary for Finance and Economy, Lei Wai Nong, said the project will support the Guangdong-Macau Chinese Medicine Science and Technology Industrial Park. Guangzhou Pharmaceuticals is expected to introduce new drug research and development there.