CTG and Sinopharm signed a strategic cooperation agreement in Shenzhen on March 15, and China Tourism Group Duty Free Co., Ltd, a subsidiary of CTG, signed an equity cooperation agreement with China Sinopharm International Corporation, a subsidiary of Sinopharm. Chen Yin, Chairman of CTG, and Wang Haimin, General Manager of CTG, Liu Jingzhen, Chairman of Sinopharm, and Hu Jianwei, Dong Zenghe and Jin Bin, Vice General Managers of Sinopharm, attended the signing ceremony. Li Gang, Vice General Manager of CTG and Chairman of CDF, and Deng Jindong, Vice General Manager of Sinopharm signed the strategic cooperation agreement on behalf of both parties, while Wang Xuan, General Manager of CDF, and Zhou Song, General Manager of Sinopharm International signed the equity cooperation agreement on behalf of both parties.
By signing this agreement, both parties will accelerate the integration of strategic resources in the cooperation areas of life and health, duty-free, medical care and recreation, and carry out extensive and in-depth cooperation in the fields of duty-free on the outlying islands, duty-free at ports of entry and exit, and duty-free in the city, to jointly create a new model of "duty-free + healthcare" to contribute to boosting confidence in global economic growth.
The two sides had a meeting before the signing ceremony. Chairman Chen Yin said that the strategic cooperation was a move to implement the major decisions and plans of the CPC Central Committee and the State Council on expanding domestic demand and promoting consumption. Sinopharm is a leading company in the industry for its scale of development, profitability and comprehensive strength. By joining hands this time, the two parties will focus on duty-free business and leverage their advantages and resources in the whole industry chain in the tourism industry and big health field for a win-win cooperation, which will lead the innovative development of the duty-free industry and continue to realize the people's aspiration for a better life.
Chairman Liu Jingzhen noted that the integration of advantageous resources in a strong alliance between the two sides is a vivid embodiment of the efforts in forging core competitiveness, stimulating innovation and creativity, and building world-class enterprises. Sinopharm will work with China Tourism Group, a leading tourism enterprise, to further enhance the comprehensive strength of China's duty-free industry in the world by sharing complementary advantages and resources in the fields of life and health and tourism. Especially, the joint venture in the field of duty-free will play a part in promoting the high-quality development of China's economy.
Yu Qingming, Chairman of Sinopharm Group, Zhu Jingjin, Vice Chairman of China National Biotec Group Company Limited, Chen Yinglong, Chairman of China Traditional Chinese Medicine Holdings Co., Ltd., leaders from Sinopharm's General Office and Public Affairs Department, and relevant leaders from the Board of Directors' Office and General Manager's Office of CTG attended the ceremony.