Major TCM manufacturer plans overseas extension

China's major producer of traditional Chinese medicine (TCM) has announced to set up 86 overseas retail outlets worldwide before 2008, which will bring its total number of overseas outlets to 100, Beijing Star Daily reported Wednesday.

The newspaper quoted Mei Quan, general manager of Tong Ren Tang Group Company as saying that the prestigious traditional Chinese medicine company will speed its expansion program overseas, and priority will be given to Southeast Asian market owing to a great overseas Chinese population in countries in the region.

Its present 14 overseas outlets are located chiefly in the United States and the Republic of Korea.

With a history of 335 years, Tong Ren Tang, founded in 1669, had enjoyed high prestige as it became the leading supplier of traditional medicine for the imperial court of China's last Qing dynasty for its superb quality Chinese medicine.

The company said its total asset for this year is expected to reach 6 billion yuan (some 730 million US dollars) with its net asset totaling 4 billion yuan (487 million US dollars), combined sales volume of 5 billion yuan (610 million US dollars) and 300 million yuan (36.5 million US dollars) in profits, record highs for the company.

Source: Xinhua