Huaren Pharmaceutical, based in Qingdao, East China's Shandong Province, said Wednesday that it has teamed up with a biotechnology company in Southwest China's Yunnan Province to produce industrial cannabis in greenhouses, which could be the first such base in China for cannabis cultivation.
Huaren said the Yunnan company will support it in terms of technology to ensure the joint venture can obtain all the necessary licenses, but it warned that there are still uncertainties about whether the JV can be approved.
The company is not alone.
In January, Shanghai Shunho New Materials Technology Co said its subsidiary had been approved by a branch of the local public security bureau in Qujing, Yunnan Province to plant industrial cannabis, kicking off a frenzy in the business among listed companies.
In February, three subsidiaries of Conba Group, a pharmaceutical company headquartered in East China's Zhejiang Province, obtained a license to grow industrial cannabis on 24,000 mu (97.13 square kilometers) of land in Yunnan Province.
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