Beijing
Tongrentang (TRT), the renowned traditional Chinese medicine company, has been
a household name in China for centuries, but since the 1990s it has been
carving out a reputation globally.
Founded in
1669, it was named the exclusive supplier of medicine for the Qing Dynasty
(1636-1912) in 1723, the highest honor for any Chinese medicine maker,
producing drugs for the imperial court for 188 years.
Bolstered
by its domestic success, TRT went on to open 110 outlets in countries like
Canada, Australia and New Zealand, and now has more than 600 employees
overseas.
Zhao
Xuecheng, deputy general manager of the TRT Macao branch, has witnessed the ups
and downs of the company's journey going global, which began in 1993 with
pharmacies established in Hong Kong, Macao and Indonesia.
No success
story is without trials and tribulations, and TRT's journey is no different.
Despite this, the company has managed to establish itself as a global brand
through integrity, quality and excellent service.
When
southern China's Guangdong province was hit by a drought between December 2005
and March 2006, low water levels resulted in salt water reducing the
effectiveness of TRT products, threatening the company's promise to keep its
prices affordable.
With much
of the company's fresh water supply now contaminated with salt water, Zhao had
to decide if he should raise the service charge in Macao.
He decided
to use mineral water but did not increase the service charge, despite creating
losses for the pharmacy.
This
decision cost TRT more than 19,500 Macao patacas (US$2,440) in just four
months, Zhao recalled. However, customers lauded the decision and brand loyalty
was strengthened.
Although
traditional ways of making medicine have been replaced by modern production
lines, quality has not been affected.
"TRT
is still very selective in choosing its raw materials and insists on purchasing
the best herbs," said Lu Guangrong, 78, a quality control supervisor at
TRT.
"Ginseng
is widely used and TRT only uses large ginseng sourced from northeastern
China's Jilin province," said Lu.
Keen to
share Chinese practice with the global community, TRT is also promoting Tai Chi
and acupuncture abroad while collaborating with traditional Chinese medicine
research institutes to foster talent overseas.
TRT has
treated more than 30 million patients overseas and has plans to establish
plantations, research and production centers, as well as retail and wholesale
outlets overseas, according to Ding Yongling, vice general manager of TRT.
TRT was
listed on the Shanghai Stock Exchange in 1997. As of Friday, its combined
valuation surpassed 45 billion yuan (US$7.3 billion).
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