Approved by the Department of Civil Affairs of Yunnan Province, Yunnan Industrial Hemp Industry Association was officially established on October 26, 2020.
The industry association was initiated by Yunnan Industrial Hemp Industry Investment Co., Ltd., a subsidiary of Yunnan Industrial Investment Group, and jointly initiated by Yunnan Hansu Biotechnology Co., Ltd. and other 12 enterprises. Currently, the association has 47 members.
Industrial hemp is an emerging industry with rapid development and high economic value in recent years. It can be used in traditional food, paper-making, textile and building materials.
Cannabinol (CBD), a compound extracted from hemp plant, can be widely used in medical, health care products and cosmetics Its downstream application covers more than 1,000 FMCG products in 14 industries.
By January 2019, 41 countries have declared medical hemp legal, and more than 50 countries have declared CBD legal. It is estimated that by 2025, the market for legal cannabis products will reach $166 billion.
Yunnan Province is one of the world’s origin producers of hemp, and the only province in China that has been approved by the relevant authorities to legally grow and extract and utilize CBD. Its unique natural geographical conditions and climate advantages made industrial hemp planting realize large-scale and industrial development.
By September 2020, there are more than 90 enterprises with industrial hemp planting license in the province covering 90,000 acres. At the same time, there are 15 enterprises with CBD extraction, processing license and more than 60 pre-approved enterprises, which own CBD producing capacity over 50 tons per year.
It has become the world’s main industrial hemp growing region and producer of CBD raw materials, the high-purity CBD products of which account for more than 50% of the international market share. Yunnan is becoming a shining card for China’s industrial hemp industry.
Yunnan Provincial Party Committee and Provincial Government attach great importance to the development of industrial hemp industry, and strive to build Yunnan’s leading position in the country and even around the world, making the industrial hemp industry develop into another 100 billion level green pillar industry.
Yunnan Industrial Hemp Industry Association was born in the background of the great development and layout of industrial hemp industry. Under the concern of leadership of provincial government, the inaugural and the first general meeting was held on October 26, 2020, following the adoption of Association’s Constitution, and the board of directors and supervisors were elected.
Yunnan Industrial Hemp Industry Association will play a important role in self-regulation, policy guidance, bridge communication and platform communication. We will provide full service to the member enterprises, promote the technological progress in new varieties selection, CBD extraction technology and application products of industrial hemp.
And we will help industrial enterprises effectively cope with the fierce international market competition, and maintain a fair, just and standardized market environment, so as to lay a solid foundation for the development of industrial hemp industry in Yunnan and even China.
The establishment of the Industrial Hemp Industry Association of Yunnan Province marks that Yunnan industrial hemp industry has blazed a trail of a standardized, scientific development, which marks a milestone in the field of industrial hemp.