Medicinal cannabis pharmaceutical company Creso Pharma (ASX:CPH) has entered the Chinese market through a partnership with a subsidiary of Hong Kong-listed investment company Kingdom Group.
The commercial agreement with the hemp producer, Kingdom Creative, will see distribution and marketing of Creso’s products in China.
Kingdom Creative is looking to expand from primarily a textile producer to expand into the healthcare sector including medical cannabis.
Under the agreement, Creso has opened four offices in China, giving the company a sales and marketing presence and local distribution options to enter the Asian market.
The two companies plan to collaborate on research and development as well as distribution of hemp- and cannabis-based products across China.
Shares in Creso Pharma (ASX:CPH) are trading 17.07 per cent higher to $0.96.