China’s industrial hemp industry policy will be relaxed gradually in 2020

The policy is gradually opening up and the legalization process of marijuana is speeding up in the world

Development of marijuana in the world

On June 24, 2020, CDN (United Nations Commission on narcotic drugs) held a two-day online meeting to discuss the WHO (World Health Organization) recommendations for the regulation of cannabis and its related substances. The meeting is the prelude to a series of special meetings to be held in December 2020. There will be three meetings on this topic before September. In this series of meetings, all Member States, including China, will discuss the unsolved problems in the who’s recommendations on cannabis products, and a series of regulatory adjustment proposals for cannabis and its related substances, which are of great significance to the future trend of cannabis and its related substances. If the recommendations are adopted, the development of the whole industry will take a big step forward.

Foreign countries actively promote the release of policies, promote the legalization of marijuana, vigorously develop related industries, and more and more countries open the industry restrictions.

Actively promote the development of industrial hemp industry in China

There is no special law and regulation in the industrial hemp industry in China. The Ministry of agriculture, the national development and Reform Commission, the Ministry of Commerce, the National Drug Control Commission and the Ministry of public security of China supervise the cultivation, processing and circulation of industrial hemp. In March 2003, the Yunnan provincial government promulgated the Interim Provisions on the management of industrial hemp in Yunnan Province. Since then, Yunnan Province has become the first province in China to allow the legal cultivation and processing of industrial hemp. Until 2017, Heilongjiang province implemented the anti drug regulations of Heilongjiang Province, including the “management of industrial hemp” as a separate chapter, and provided for the definition, variety selection, planting, sales, processing and supervision of industrial hemp. Heilongjiang province became the second province after Yunnan Province to legalize industrial hemp.

In March 2018, the Jilin provincial government included the “Jilin provincial drug control regulations” into the local legislation project, and took “industrial hemp management” as a separate chapter, which stipulated the definition, nature, breeding, planting, processing and sales of industrial marijuana, and made it clear that the industry supervision should be strengthened under the premise of orderly opening up. It is planned to submit it to the provincial government after the deliberation and approval of the Party committee of the provincial public security department Perform legislative procedures. Jilin Province is expected to become the third Province in China to legalize industrial marijuana.

In recent years, some departments and institutions are actively promoting the development of industrial hemp industry. On March 13, 2019, at the annual meeting of China hemp textile industry association and the Sixth Council meeting of the seventh session, the first domestic action proposal in the field of industrial hemp was officially released, which proposed the coordinated development of upstream and downstream to accelerate the industrialization and marketization of industrial hemp. In addition, Heilongjiang, Yunnan and other provinces have issued policies and plans to improve the layout of local industrial hemp industry chain.

CBD market scale continues to expand, widely used

The scale of China’s CBD market is expanding again and again

At present, the main use of industrial hemp in China is textile fiber. Thanks to the efforts of researchers in the field of cannabinol in China in recent years, it has been put into mass production and promoted nationwide. More and more biopharmaceutical enterprises begin to realize the medicinal value of cannabinol. As the raw material of cannabinol is industrial hemp, the industry is controlled by the government, and only the enterprises with license issued by the government can legally produce cannabinol. According to the white paper on industrial hemp industry in 2019, the market scale of cannabinol in China will be about 570 million yuan in 2019. According to the prediction of brightfield group, the global CBD industry value will reach 5.7 billion US dollars in 2019, compared with that in China, the development of CBD is still in the early stage.

CBD application direction is increasing, involving a wide range of fields

In recent years, many countries have begun to legalize marijuana. CBD has high medical value in function, so it mainly focuses on medical and drug research.

But with the continuous development and application of CBD, CBD has been applied to many fields, and hundreds of products have been produced, including CBD soft sweets, CBD oil, CBD emulsion, CBD beverage and so on.

Hot investment and diversified investors

Many foreign factories set foot in industrial hemp

The development of industrial hemp attracted the attention of many manufacturers, and more and more enterprises began to layout in the industrial hemp industry. There is no sign of joint venture in marijuana industry from 2018.

As cannabinol has the effect of relieving inflammation, pain and spasm, in the process of marijuana legalization in Canada, cross-border giants are also actively exploring new cooperation mode, mainly used in drinks and other food, and the product response is good. The overseas giants of CBD in the field of consumer goods have begun to layout marijuana related products.

Investment enthusiasm of domestic enterprises is high

According to snowball statistics, by the beginning of August 2020, there are about 57 listed companies involved in the concept of industrial hemp. A year ago, the number was only 47. Although the entry threshold of the industrial hemp industry is too high, most enterprises are difficult to get involved, but it is still difficult to extinguish the enthusiasm of enterprises to invest, and enterprises continue to layout the industry.

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