BEIJING, June 15 (Xinhua) -- A new joint venture company with registered capital of 1 billion yuan was established by Ping An Insurance (Group) Company of China, Ltd. and TSUMURA & CO.
The new JV aims to improve the R&D and pharmaceutical technology of Chinese medicine, and build the quality management standard system for the whole industrial chain from cultivation of medicinal herbs to final products, in an effort to boost the healthy development of Chinese medicine industry in China.
At the same time, Ping An will combine its advantages in customer platforms, resources in the financial, medical, and health industries with TSUMURA's advanced technology in the production and research of traditional Chinese medicines, and advanced management experience in the origin traceability system of raw herbs.
Established in Shenzhen in 1988, Ping An Insurance (Group) Company of China, Ltd. was the first insurance company in China to adopt a shareholding structure. It has developed into a personal financial services group with three core businesses - insurance, banking and investment - enjoying parallel growth of its core finance and Internet finance businesses. (Edited by Ma Xin, firstname.lastname@example.org)