SCOTTSDALE, AZ / ACCESSWIRE / August 20, 2024 / The landscape of the CBD industry in China is set to undergo a transformative shift with the introduction of new regulations effective September 1st. According to a recent memo from the USDA, CBD is among seven substances now integrated into China's "precursor chemicals management system." This change, based on an official Chinese government announcement, marks a significant development for the industry.
Under these new guidelines, CBD's production, operation, purchase, transportation, import, and export activities will be governed by the stringent regulations applicable to non-pharmaceutical precursor chemicals. Importantly, CBD now holds a defined classification within China's internal "harmonized tariff system," offering clarity and structure for the market.
The USDA memo highlights a critical advancement: with the proper applications filed in accordance with People's Republic of China (PRC) regulations, CBD can now be legally produced and marketed nationwide. This expansion moves beyond the previous limitations, which restricted production to the Yunnan and Heilongjiang provinces.
US alerts hemp sector to new Chinese CBD regulations (mjbizdaily.com)
Lisa Nelson, President & CEO of CBDL, expressed major interest about these new CBD policies stating, "Now is the best time to strike deals in the CBD sector overseas in China. We are already working with wholesalers, distributors, retail and working with merchant banks to locate new businesses for the CBD sector. Engaging in these conversations are early as possible will give us a head start into closing huge deals overseas that can lift our revenues much higher and become a top company in the CBD space."
The CBD Vault Inc. is a wholly owned subsidiary of CBD Life Sciences Inc. The CBD Vault has developed and is retailing/wholesale a full line of cannabidiol based & organic products including, Delta 8 & 10 Gummy's, Full Spectrum Tinctures & Gummy's, Pain Cream, Roll-on's, Salve, Full Pet Line, Pre-Rolls, Full Line of Spa Products, Sleep & Anxiety Edibles. The CBD Vault's products can be viewed and purchased on the Company's website www.thecbdvault.com.
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Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See CBD Life Sciences, Inc's, Inc.'s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements.
Contact Information
Lisa Nelson
CEO
[email protected]
4802091720
SOURCE: CBD Life Sciences Inc.