Traditional pharma firm furthers reform efforts
By David Blair and Li Yingqing | China Daily | Updated: 2019-02-22 08:48
Mixed-ownership helps Yunnan Baiyao respond quicker to global competition
Yunnan Baiyao, the Kunming-based manufacturer of healthcare products, has had two spectacular decades.
Since 1993, the year it became a listed company, its revenues have gone up 418 times and net profits have risen 240 times. Still, the company decided to create a mixed-ownership structure and to become much more market-oriented, so that it can adapt to internationalization and to the reforms of China's healthcare system.
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