Vice Chairman of Tibet Autonomous Region WANG Yong Met with Director and President of Huabao Ms. YUAN Xiaoqin

On the morning of November 4, WANG Yong, Vice Chairman of Tibet Autonomous Region, met with Ms. YUAN Xiaoqin, Director and President of Huabao Flavours & Fragrances Co., Ltd. (“Huabao” or the “Company”), at Tibet Hotel during his visit to Shanghai. He was accompanied by GAO Baojun, Deputy Secretary General of Tibet Autonomous Region, YANG Zhonghua, Director of Tibet Autonomous Region Office in Shanghai, TANG Song, Secondary Inspector of Commerce Department of Tibet Autonomous Region and Director of Foreign Investment Department, and the like. ZHANG Jie, Vice President and CFO of Huabao, and YANG Cheng, Assistant to President of Huabao attended the meeting.

At the meeting, Ms. YUAN first reported the development of Huabao in Tibet to WANG Yong. Ms. YUAN said that Tibet was a blessed place for Huabao, and also the starting place for Huabao to start a new undertaking. The Company has made a modest contribution to Tibet’s economic development, targeted poverty alleviation and well-off society with practical actions. Since its settlement in Tibet in August 2016, Huabao has paid a total of RMB 550 million in taxes. At the same time, we moved the Huabao National Enterprise Technology Center to Lhasa Economic and Technological Development Zone, becoming the third national enterprise technology center in Tibet after that of Cheezheng Tibetan Medicine and Tibet Rhodiola Pharmaceutical Holdings. At present, we are rebuilding our headquarters office and production base in Lhasa Economic and Technological Development Zone, which is another solid step taken by Huabao in response to the government’s call of “moving from virtual economy to real economy” and jointly building a better future for Tibet. After the completion of the project, it will help improve the enterprise revenue, solve the local employment problem, and increase the total tax revenue.

After listening to the report, Mr. WANG affirmed Huabao’s contribution and achievements in Tibet, as well as its earnest and pragmatic working attitude. He really hoped that excellent enterprises like Huabao could participate in Tibet’s ongoing brand building of “The Third Pole on Earth”, and jointly create a new world-famous iconic symbol for Tibet - “The Third Pole on Earth”. Meanwhile, he said that governments at all levels and functional departments of the Autonomous Region would also continue to improve the business environment, formulate supporting policies and provide supporting services for enterprises’ business expansion.

At the meeting, Mr. WANG also listened to the suggestions of Ms. YUAN and other leaders of Huabao on the economic and social development of Tibet. The atmosphere at the meeting was warm and the interaction was frequent, practical and effective.

After the meeting, the participants took a group photo.

Extended Reading:

About Huabao Headquarters Office and Production Base Project

The construction project of Hubao headquarters office and production base is located in the Industrial Cooperation Demonstration Park of Lassa-Jiangning (National) Economic Development Zone, South Road, Block B, Lhasa Economic and Technological Development Zone. The project will also include the company display function, which will further clarify the positive attitude of Huabao in settling in Lhasa and making contributions to Lhasa region, and enhance the corporate image. Relying on the local fiscal and tax policies of Lhasa, the project will help improve the enterprise revenue, solve the local employment problem, and increase the total tax revenue after its completion.