China isn’t going to be last to the cannabis party. The country recently announced that they will allow for the first Chinese company to focus on the research, marketing and development of CBD products.
Per High Times:
The firm, dubbed XiBiDi Biotechnology Co, will operate out of Pudong Technology Park, part of the Shanghai Pilot Free-Trade Zone. It will initially offer hemp-derived CBD oil, as well as hemp-based foods and beverages, according to a press release from ChineseInvestors.com, or CIIX. The Chinese character “XiBiDi” is homophonic to “CBD” in English.
XiBiDi Biotechnology will be the operator of CIIX’s recently launched online store, ChineseCBDoil.com, which will focus on marketing “legal, hemp-based CBD nutrient and health products to Chinese-speaking customers worldwide.” CIIX is also preparing to open a retail store based in the predominantly Chinese community of San Gabriel, California.
“CIIX is very excited to be the world’s first U.S. publicly traded company promoting hemp-based CBD health products and hemp foods that will help Chinese people improve their overall health,” said CIIX founder and CEO Warren Wang.
Read more about XiBiDi Biotechnology here