Mixing old and new recipe for success

The proudest thing in Qi Taiyun's career is being a leading member of a Chinese drug company that has, since its founding in 1971, never had to borrow money for investment nor report a net loss.

Qi, secretary of Yunnan Baiyao Group Co Ltd, a company famous for its star product - Yunnan Baiyao, a traditional Chinese medicine for sprains and bruises from injuries - said the success of Yunnan Baiyao Group is based not only on its secret recipe but also its ability to change.

According to statistics, Yunnan Baiyao Group's market value soared dramatically from about 300 million yuan ($48.8 million) in 1993 to 70.8 billion yuan in 2013, when it saw a revenue of 15.8 billion yuan and had the highest sales among Chinese listed drug companies.