The plan of having an " international harbor of traditional Chinese medicine" in Hong Kong, designed by tycoon Li Ka-shing, has come true.

Guangzhou Baiyunshan Pharmaceutical Stock Co. Limited and Hutchison Whampoa Ltd., one of the world's top 500 businesses, have set up a joint venture in Guangzhou, which is a step towards establishing Li's dream of a "kingdom of traditional Chinese medicine."

Hutchison Whampoa is aimed at developing and promoting traditional Chinese medicine to the world, said Lai Kai Ming, Dominic, executive director of Hutchison Whampoa, on behalf of Li Ka-shing, Hutchison Whampoa's owner.

"We'll strive for doubling net profit in two years and making the company listed in Hong Kong in three years," said Li Chuyuan, general manager of the new venture, "We'll also set foot in drugstore chains and hospitals."

Source: Xinhua