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广药集团董事长、总经理杨荣明在广州药业与联合博资合资庆典上的致辞

Honorable Mr. Mayor, honorable Mr. Stefano Pessina, Respected Leaders, Dear Friends,

It is a great pleasure for me to witness the celebration ceremony marking the opening of the joint venture between Guangzhou Pharmaceutical Company Ltd under GPHL and Alliance Boots after two years friendly negotiation. The joint venture program set a good beginning for the cooperation between Guangzhou pharmaceutical companies and international pharmaceutical groups. First of all, on behalf of GPHL, I would like to express warm congratulations on the launching of the joint venture. I would also like to express sincere gratitude to provincial and municipal leaders as well as all the guests present for their great support.

As one of the rapidly developing costal cities in China, Guangzhou attracts more and more foreign investment from international groups thanks to its special location, prosperous economy and favorable opening up policy. As a world leading pharmaceutical wholesale and retail business, Alliance Boots has gained considerable experience in international investment and operation and has gradually established a complete value chain in international pharmaceutical distribution and wholesale industry. It was after comprehensive investment study and comparison that Alliance Boots decided to invest in Guangzhou to cooperate with Guangzhou Pharmaceutical Company Ltd. This shows its great confidence in pharmaceutical companies in Guangzhou. I believe the strong partnership will bring bright future for the joint venture company, GP Corp.

Both sides showed friendliness and sincerity during the whole negotiation process. We talked about the prospect of Chinese pharmaceutical industry and reached agreement on the development plan of the joint venture. The partnership will also help explore development potential and complement each other in manufacturing and distribution network.

Therefore, we believe that the successful inauguration of our joint venture today will lead to more and further cooperation between us. The establishment of joint venture will bring advanced managerial expertise, expand distribution channel, and help local companies get recognition throughout China and even in the whole world. At the same time, the joint venture will surely serve as a platform to promote the pharmaceutical products of Guangzhou Pharmaceutical Company Ltd. in the international market.

The partnership between Guangzhou Pharmaceutical Company Limited and Alliance Boots will contribute to the development of Guangzhou pharmaceutical industry, strengthen the core competitiveness of Guangzhou pharmaceutical companies, facilitate their growth in face of globalization and take advantage of the great achievement of Chinese pharmaceutical industry. Last but not the least, I would like to wish GPC Ltd and Alliance Boots a successful partnership and wish the joint venture company, GP Corp, a bright future!

Thank you!