Sinopharm steps on reform pedal to enhance growth

China National Pharmaceutical Group (Sinopharm) will invest in more private companies and attract investors from both private and State-owned businesses to further increase its earnings potential this year.

The company has already made a good beginning in this regard by bringing nearly 90 percent of its subsidiaries in the reform push by the end of 2017. It involved 660 group companies and accounted for over 85 percent of the group's revenue contributors.

"We have been bringing in strategic investors in sales and pharmaceutical equipment," said Shi Shengyi, deputy general manager of Sinopharm. "Investing in selective private companies can generate high growth potential as it helps further diversify the company's sales and supply channels."