As Chinese New Year celebrations wind down, stores in China will restock their shelves with something from the United States that has become a favorite gift for the holiday: ginseng grown in Wisconsin. Wisconsin’s ginseng crop is so valued in China that it has spawned a counterfeit business which threatens to undermine its value and brand marketability, according to Tom Hack, international marketing director for the Ginseng Board of Wisconsin…Full Article: China Daily Mar 2015
- In 2014, Wisconsin produced ~700,000 pounds (~318 MTs) of ginseng, of which 80% (~255 MTs, US$10 million to the mainland and US$15.6 million to Hong Kong) was exported to China.
- In 2013, the Ginseng Board of Wisconsin and China’s Beijing Tong Ren Tang Health-Pharmaceutical Co Ltd signed an agreement that Wisconsin would supply China with US$200 million worth of certified ginseng.
- Founded in 1669 and headquartered in Beijing, Beijing TRT was initially the royal pharmacy of the imperial palace of the Qing Dynasty. The company’s has three business divisions: modern pharmacy, retail business and medical services.