UPDATED:  June 28, 2011 11:33 PM
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O'Malley’s Asia Trade Mission Results in $85M in investments

Annapolis, Maryland– Governor Martin O’Malley touted on June 14 the success of a 10-day economic development mission to China, Korea and Vietnam.

Highlights included the largest investment of a Chinese company in Maryland, meetings with more than half a dozen major Asian companies, and more than $85 million in direct foreign investments in Maryland.

O’Malley’s delegation included University of Maryland College Park President Wallace Loh, Maryland Department of Business and Economic Development Secretary Christian S. Johansson, and Secretary of State John McDonough.

Tasly Group, one of China’s leading biopharmaceutical companies, plans to invest $40 million in a new 443,000-square foot production facility and training center at Shady Grove Life Sciences Center in Montgomery County. The plans will generate dozens of jobs, as it prepares for Phase III clinical trials of its traditional Chinese medicine product, Compound Danshen Dripping Pills (CDDP), developed to treat and prevent coronary disease.

O’Malley also witnessed the signing of deals between Maryland and Chinese companies, totaling more than $45 million, as well as the addition of two Chinese biotech companies–Sunscape and Cell Path–to Maryland’s International Incubator at College Park, as well as the renewal of DaSol, a Chinese solar energy company.

For details on resources available to local business that want to market their products or services globally, visit www.choosemaryland.org.

“With many of Maryland’s top business leaders and educators among our delegation, we sent a strong message that Maryland is the gateway to doing business in the U.S., particularly in the life sciences and high tech industries,” said Governor O’Malley.

Dr. Loh said in an email to the University of Maryland community: “At my inauguration in April, I identified four strategic priorities: student opportunity; innovation and entrepreneurship; internationalization; and service to the people of Maryland. The China visit is a step forward in advancing each of these goals,”

“I learned two things from this visit–the ‘University of Maryland’ brand is widely recognized and highly valued in China, and the opportunities for mutually beneficial UM-China partnerships are limited only by our imagination and engagement.”

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