Hubei Province Pharma Moves

The China Daily Business Weekly has reported a number of importantdevelopments in China's Hubei province. The city of Wuxue is to establish a major pharmaceuticals production base, with three large and 20 small production companies, and 3 billion renminbi ($360.6 million) of annual output value.

Also, Huanggang is to establish a new wholesale market for the trading of pharmaceuticals. Some locally-produced drugs could be exported to Hong Kong via the new Beijing-Kowloon railway.

Finally, the Huangjinqiao Economic, Science and Technology Development Zone in Macheng is seeking foreign investment for the construction of export-oriented pharmaceutical and medicinal materials in the zone. Foreign investors could benefit from preferential taxes and other financial incentives.