Global cannabis industry eyes China for production and investment
Chinese investors are beginning to warm to the new market, but a negative social stigma and a lack of education surrounding the drug are hurdles that need to be overcome
Friday, November 2, 2018
The global cannabis industry is targeting China for production and investment, while the country’s investors are warming up to the idea of placing their money in the fast-growing market. Legal cannabis is a booming market worldwide, expected to be worth US$57 billion in 10 years, with legal adult recreational use accounting for 67 per cent, and medicinal marijuana taking up 33 per cent. Asia’s participation is predicted to rise as Thailand and Malaysia are considering the legalisation of medical marijuana – the first countries in the region to do so. While growth and consumption of marijuana remains illegal in China, the government has been investing in health-related cannabis. (See also: Why Hong Kong is no gateway to China when it comes to legalising marijuana)
