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Tasly invests US$40m in Maryland
By Wang Yanlin |
June 3, 2011, Friday
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Print Edition
Print Edition
A huge project by Tasly Group, a Chinese biopharmaceutical firm, is among nine investments by Chinese enterprises worth a combined US$86 million in the US state of Maryland, its Governor Martin O'Malley announced in Shanghai yesterday.
Tasly Group, based in Shanghai's Zhangjiang High-Tech Park, invested US$40 million in a new facility in Montgomery County, the biggest investment made by a Chinese company in Maryland.
Other projects included a computer science joint venture between a technology company in Xi'an, capital of northwest China's Shaanxi Province, and a United States firm.
"We are pleased to welcome Chinese companies to Maryland," said O'Malley, who led a business delegation to Asia to attract more investment.
"There are incredible opportunities for Maryland companies to collaborate with Chinese investors and researchers by sharing knowledge, generating promising partnerships and leveraging the power of innovation to create jobs," he said.
Maryland is located on the Atlantic seaboard, close to Washington DC, the US capital. It is home to one of the five largest biotechnology industry clusters in the world and the sites of the US Food and Drug Administration and the National Institutes of Health.
"Our investment marks an important chapter in the globalization of traditional Chinese medicine," Tasly Chairman Yan Xijun said.
The firm is preparing to market and sell a traditional Chinese medicine product, which treats coronary disease, in the US.
In the first four months, China's outbound non-financial foreign direct investment grew 17.5 percent year on year to US$13.4 billion.
Tasly Group, based in Shanghai's Zhangjiang High-Tech Park, invested US$40 million in a new facility in Montgomery County, the biggest investment made by a Chinese company in Maryland.
Other projects included a computer science joint venture between a technology company in Xi'an, capital of northwest China's Shaanxi Province, and a United States firm.
"We are pleased to welcome Chinese companies to Maryland," said O'Malley, who led a business delegation to Asia to attract more investment.
"There are incredible opportunities for Maryland companies to collaborate with Chinese investors and researchers by sharing knowledge, generating promising partnerships and leveraging the power of innovation to create jobs," he said.
Maryland is located on the Atlantic seaboard, close to Washington DC, the US capital. It is home to one of the five largest biotechnology industry clusters in the world and the sites of the US Food and Drug Administration and the National Institutes of Health.
"Our investment marks an important chapter in the globalization of traditional Chinese medicine," Tasly Chairman Yan Xijun said.
The firm is preparing to market and sell a traditional Chinese medicine product, which treats coronary disease, in the US.
In the first four months, China's outbound non-financial foreign direct investment grew 17.5 percent year on year to US$13.4 billion.
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