Tongrentang, China's mainland listed company, recently issued an announcement that the company's 2000 first temporary shareholders meeting had voted in a written form and passed the draft resolution on the establishment of the Beijing Tongrentang Technology Development Co. Ltd.

Jointly sponsored by Tongrentang which contributed an investment of a little over 100 million yuan (book value), and other initiators.

After its founding, the new company will apply to related State department for listing in HK Enterprise Market.

Beijing Tongrentang Technology Development Co. Ltd., with registered capital of 110 million yuan, is invested with substantial capital and some cash by Beijing Tongrentang No.2 Pharmaceutical Factory and Beijing Tongrentang Traditional Chinese Medicine Refinery Factory, with a combined stock of 100 million shares, making up 90.9 percent of the total. The business scope of the company mainly covers the production, process and marketing of Chinese patent drugs, Chinese herbal medicines and bio-medicines.