Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Q&A Site Zhihu’s Financial Report Shows It Must Balance Spending and Earnings to Cut Losses
Chinese Online Language Educator 51Talk Sees Profits Slump Even as Revenue Grows
Automaker Changan Plans to List EV Unit in Shanghai, Report Says
Sohu Returns to Profit in First Quarter as Online Gaming Revenue Grows
Chinese Trucking Startup ForU Applies for Nasdaq Listing
Baidu Aims to Replace State-of-the-Art Self-Driving Tech With Launch of V2X System
Chinese Snack-Maker Shapes Up as a Spicy Hong Kong Offering
Fresh Funding Lifts Blockchain-Based Gaming Firm Animoca Into Unicorn Club
Foxconn Drives Deeper Into Car Manufacturing With Fisker Deal
Tesla Wannabe Xpeng Reports Shrinking Losses as Deliveries Explode
Tencent Brings in Nearly $500 Million From ‘Honor of Kings’ and ‘PUBG Mobile’ in April
U.S. Senate Advances Bill That Would Ban TikTok from Government Devices
WeRide Raises Fresh Capital as It Ponders How to Make Money Off Self-Driving Cars
China’s 2021 Smartphone Sales Surge Comes to an End in April
Trending in China: Weibo Turns On E-Bike Riders After Battery Explodes in Elevator
U.S. Senate Committee Presses Companies to Comply with Rule Designed to Limit Supply Sales to Huawei Receives Green Light to Run Autonomous Freight Business in Guangzhou
Trending in China: Stories of Young Survivors on 13th Anniversary of Wenchuan Earthquake
Internet Security Apps Called Out for Personal Data Abuse
Online Insurance Upstart Yuanbao Bags $156 Million in New Funding
Firm Gets Green Light to Grow Pot in Yunnan

By Zhao Runhua / Feb 21, 2019 06:44 PM / Business & Tech

Photo: VCG

Photo: VCG

Units of a Chinese pharmaceutical company have received approval to grow cannabis for medicinal and other industrial purposes in Yunnan province.

Subsidiaries of Zhejiang Jinhua Conba Biological will grow the marijuana plant in areas with a total size of 16 square kilometers (7.72 square miles) in Yunnan, according to a statement the company released on Wednesday.

The approved cannabis strain — a locally cultivated seed called Yunma No. 7 — will contain less THC (the psychoactive constituent of cannabis) and be more suited for industrial and medicinal purposes, the company said.

Yunnan province, in China’s southwest next to the opium-producing Golden Triangle, was first legally allowed to grow cannabis in 2010. In 2017, Heilongjiang province, near Russia, received permission. Jilin, next to North Korea, has filed to legalize cannabis plantations.

Conba’s major pharmaceutical products are gastrointestinal and pain-relieving medicines. The company's Shanghai-traded stock got high today — rising 9.93% — and increased Conba’s market cap by 1.6 billion yuan ($239 million).

Related: Chinese Delegation Heads to Israel to Explore Cannabis

Share this article
Open WeChat and scan the QR code