Chinese pharmaceutical giant Guangzhou Pharmaceutical Group launched on Tuesday a fund of 1 billion yuan ($155 million) under the name of Ci Ning Ji, aimed at boosting development of rural areas in Guizhou province.
A five-year action plan on the task was unveiled during the launch ceremony for the fund held in Guangzhou, Guangdong province, and the company promised to use the fund to bolster industrial development, stimulate consumption, conduct scientific research, and cultivate agricultural talent in Guizhou province.
The ultimate purpose of the fund is to build long-term poverty alleviation mechanisms, contribute to reform for rural and agricultural modernization, and assist with rural revitalization, the company said.
The company will invest 100 million yuan in the next five years, to promote scientific research and innovation for products made from Guizhou province's signature fruit, Rosa roxburghii Tratt, or thorn pear, a healthy fruit rich in vitamin C with a sweet and sour flavor.
It will continue to promote its beverage brand Ci Ning Ji, made with ingredients mainly including thorn pear, and develop new products to stimulate the development of the thorn pear processing industry.
The company also said it will plant new thorn pear trees for environmental protection, and will cooperate with locals on talent cultivation and thorn pear branding.
Li Chuyuan, president of the company, said during the 14 Five-Year Plan period, the company will focus on Ci Ning Ji branding, to consolidate achievements in poverty alleviation and contribute to rural revitalization.
Liang Jian, deputy head of the poverty alleviation office of Guangdong province, spoke highly of the contributions the company has made to help with poverty alleviation.