On June 15th, Shenzhen Zhenwei Biotechnology Co., Ltd. (referred to as "Zhenwei Biotech") was granted the first tobacco monopoly production enterprise license (aerosolized substance) in the electronic cigarette industry. This signifies that Zhenwei Biotech, as a leading company in the aerosolized substance subsector, has officially passed the strict review of the State Tobacco Monopoly Administration, becoming one of the few enterprises granted a tobacco monopoly production enterprise license.
The issuance of the tobacco monopoly production license signifies an important and solid step for China in promoting the legalization and standardization of the electronic cigarette industry. In this new landscape, Zhenwei Biotechnology will continue to uphold its mission to "lead industry development and promote healthy vaping," with a focus on prioritizing national and consumer interests. The company is committed to becoming a trusted global electronic vaping liquid solution service platform, delivering happiness to its employees and remaining a leader in the industry.
Since the implementation of the "Electronic Cigarette Management Regulations" on May 1, 2022, the State Tobacco Monopoly Administration has rapidly promoted the regulation of new tobacco products such as electronic cigarettes, demonstrating the government's determination to promote the standardized development of the electronic cigarette industry and effectively improve market access barriers. True Taste Biotech actively embraces regulation, operates in compliance with the law, and with its long-term accumulation of good reputation in the industry, is expected to further increase market share in the future's competition for the industry's benign development.
The Chinese e-cigarette industry, which currently has over 90% of global production capacity, will further solidify its advantages as an industry cluster and gain international recognition under more standardized regulations, ultimately contributing to the country's economy. With the entire production chain, including raw materials, production, wholesaling, sales, and exports, regulated similarly to traditional cigarettes, product quality will be effectively monitored, and consumer rights will be better protected. True Taste Biotech will actively adhere to the principle of "prioritizing both benefits," embrace new regulations, and contribute to the sustainable development of the e-cigarette industry.
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