Maoming Industrial Investment and Development Ltd and Guangzhou Xiangxue Pharmaceutical signed a cooperation agreement to establish the Xiangxue Pharmaceutical Airport Economic Zone on Nov 22.

The zone, located in Maoming's airport economic zone, involves a total investment of three billion yuan ($414.38 million), with an initial investment of approximately 500 million yuan. Upon completion, the zone is expected to generate an output value of one billion yuan, with a long-term goal of exceeding 10 billion yuan in output value. The zone is meant to upgrade the production of the Huajuhong series of products, enhance brand building, and support academic research. It will promote the intelligent transformation of enterprises in the traditional Chinese medicine industry and accelerate the development and production of new technology-based pharmaceuticals.

Xiangxue Pharmaceutical is expected to leverage its technological, brand, and resource advantages to accelerate the project's completion, aiming for production by the end of 2025. This initiative will contribute significantly to the high-quality development of Maoming's pharmaceutical and healthcare industry.

The signing ceremony is held for the Xiangxue Pharmaceutical Airport Economic Zone project. [Photo/WeChat account: maofabu]