With the Chinese government focusing on industrial hemp’s potential, it’s rapidly enhancing infrastructure and financial resources to catapult the country to being the planet’s hemp leader for years to come.
A significant number of industrial giants are indulging in the hemp sector through creating physical assets and building pertinent facilities to acquire aggressive and expansive plans within the two main provinces where hemp growth and processing is authorized. (Heilolang and Yunnan)
Free trade areas that support hemp production and hemp-centered industrial parks are developing rapidly. There are also financial and investment incentives to attract more players into the sector. They’re complemented by rapidly-growing professional mergers.
Among the major expressions of Chinese hemp, plans include the Kunming International Industrial Hemp Industry Park. It was built in Yunnan Province in September this year within the Kunming Economic Development Zone. The park currently houses corporate offices, institutions for technological and scientific transformation, R&D centers for technology, inspection and testing, as well as CBD extraction and synthesis.
In the park’s recent event, Wang Xiliang( Kumming’s Mayor and assistant secretary of the Municipal Party Committee) said setting up a $15 billion industrial park calls for an unremitting struggle for long-haul success.
Industrialists and officials are taking up the struggle with relish in Yunnan. A place where laws, hemp cultivation and processing for industrial-grade hemp production began twenty years ago.
The Kunming International Industrial Hemp Industry Park also holds about thirty hemp-focused firms which occupy 37,000 sq. meters of factory and office buildings. Over sixty companies are expected to be erected in the park by the end of 2021. Mayor Wang said the objective is to quickly transform hemp to be a cornerstone of Yunnan’s biotechnology and health industries.
Heilongjiang Province has adopted a whole-plant technique, developing food products and fiber applications from the gradually expanding hemp fields since 2016. Heilongjiang and Yunnan’s individual statistics are daunting to find. The sum of last year’s hemp fields from both provinces was estimated to be nearly 165,000 acres by USDA(United States Department of Agriculture). If these figures are accurate, it means China’s hemp fields went up between 2018 and 2019. The Chinese government reported 2018’s total fields at about 44,000 acres.