Chinese animal health firms announce joint venture to explore global market

A cat is seen at a booth during the KoShariki Cat Show at the Sokolniki Exhibition and Convention Center in Moscow, Russia, on Jan. 4, 2018.  (Xinhua/Bai Xueqi)

China Animal Husbandry Industry Co., Ltd. (CAHIC, 600195.SH) on Thursday announced to establish a joint venture with Sinopharm Animal Health Co., Ltd. (SPAH) and several other companies to promote global development of China's animal health industry, reported China Securities Journal.

The joint venture is expected to be established among CAHIC, SPAH, China Agricultural Vet Biology and Technology Co., Ltd., Yulin Holdings and Beijing Zhong Yu Zhong Nong Biological Technology Co., Ltd., with a planned registered capital of 100 million yuan (about 13.94 million U.S. dollars).

It is planned that the joint venture's business scope will cover foreign trade and investment, as well as R&D, production, sales, import and export, and agent registration service of animal biological products, among others.

The joint venture, upon establishment, will actively participate in the Belt and Road Initiative, focusing on providing standardized products and services to Belt and Road countries through overseas investment, according to CAHIC. The joint venture will strive to expand its overseas business through enhancing the influence of product and brand globalization.