Hemp Time eyes big opportunity in Chinese market

By Guo Xiaohong
0 Comment(s)Print E-mail China.org.cn, June 21, 2021
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Chinese hemp company, Hempu Time Bio-tech Co., Ltd. (or Hempu Time), launched its full range of products at a press conference in Shanghai on June 18.

A press conference held by Hempu Time presenting its full range of hemp products. [Photo by Guo Xiaohong/China.org.cn]

Hemp experts and researchers, and representatives of companies from the hemp industry attended the event and discussed the industry's development in China and around the world.

The full range of hemp products displayed by Hempu Time at the conference included raw materials, food and beverages, healthcare products, skin care products, pet products, e-cigarettes, and cultural and creative products.

Ji Han, chief executive officer of Hempu Time, told the press conference: "Hemp is valuable as many of its derivative products can help ease people's anxiety and sleep disorders. China is a huge market with great potential. That's why our US company Hemp Time is refocusing its attention on China.”

Hemp Time is a time-honored company which focuses on the whole industrial layout of industrial hemp in overseas markets, providing a one-stop supply chain for global customers covering hemp planting and processing, manufacturing of extraction equipment, product development as well as trade import and export. According to the company, it is a supplier to Walmart, Swiss pharmacies, and hospitals in Malaysia, and its products are popular among consumers both at home and abroad.

A medical cannabis factory of Hemp Time in central Pennsylvania, United States. [Photo courtesy of Hemp Time]

Ji said that the opportunity is rare in China, as his company is promoting mature and effective products with developed technology in a huge market where there is almost a vacuum. The company started developing its hemp business and set up Hempu Time on the Chinese mainland in 2019.

He added that there is increased knowledge about and awareness of industrial cannabis in China, with people able to differentiate between industrial hemp and marijuana, as not all cannabis types are narcotics.

More than 30 hemp experts and researchers took part in the press conference, including Deng Xin, a hemp researcher with the Chinese Academy of Agricultural Sciences; Gao Feng, deputy manager-general of the Yunnan Provincial Industrial Hemp Institute; and Wang Zhenyu, a professor of food biochemical engineering at the Harbin Institute of Technology.

They said that with the exploration of the medical value of industrial hemp and the spread of information, industrial hemp is becoming better known around the world. As such, China should actively develop its related industries in an orderly manner so as to bring more tangible benefits to the people, and promote the healthy development of the industry.

Hemp, also called industrial cannabis, is used extensively in industry, medical care and daily life. The cannabidiol it contains is a key raw material for making specific medicines to treat mental conditions such as epilepsy, anxiety and depression.

In addition, industrial hemp is also used in the textiles, paper-making and oil processing industries.

According to data from the China Agricultural Statistics Yearbook and the Food and Agriculture Organization of the United Nations, China's output of industrial hemp accounts for around half of the world's total. The country also has the largest planting area of industrial hemp, and is a major exporter of raw materials for the industry.

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