In May 2014, Globalink entered into a joint venture agreement with Shizhen Bio-Technology Co., Ltd. in Jiangsu Province, China and incorporated Globalink (Xuzhou) Bio-Technology Co., Ltd. to develop ginkgo plantation and cultivation in Pizhou City, Jiangsu Province, China. In September 2015, Globalink Xuzhou leased about 100 acres of farmland and started the development of ginkgo plantation.
In October 2015, Globalink incorporated another subsidiary Globalink (Zhejiang) Bio-Technology Co., Ltd. in Ningbo City, Jangsu Province, P.R. China. Globalink Zhejiang is involved in the research and development, cultivation, extraction and application of ginkgo trees and other economic plants. In January 2016, Globalink Zhejiang entered into a Technology Development Service Agreement with Zhejiang Pharmaceutical College, pursuant to which the College will conduct research and development on induction of callus of ginkgo leaves and extraction and identification of effective ingredients therefrom.
Ginkgo biloba is the oldest living tree species. A potent antioxidant, ginkgo biloba improves blood and oxygen flow to the brain and extremities while supporting memory function and mental sharpness. It improves circulation throughout the body and prevents the development of age-related mental and cerebral symptoms and conditions, lessening the severity of memory loss, vertigo, senility and vigilance. Ginkgo supplements are among the best-selling herbal medications.
Our ginkgo plantation will deploy the latest scientific and technical practices available to us throughout the growth cycle and the processing and distribution processes to maximize our out-put of high-quality dried ginkgo leaves. We will incorporate European-style good agricultural practices (GAP) into our operations and will seek to integrate our customer's agricultural and other practices into our processes and procedures so that buyers will have confidence that the product they purchase from us satisfies their standards. Our practice has attracted lots of attention of pharmaceutical companies, health and dietary supplement manufacturers, and other experts in the industry.
If we are able to expand our plantation as planned and achieve the ideal economic scale, we will be among the largest independent producers of dried ginkgo leaves in China.
OneWorld Hotel Destination Services Inc. ("OneWorld")
OneWorld is a wholly-owned subsidiary of Globalink. OneWorld operates a hotel booking business in Vancouver, Canada. Globalink intends to further develop and expand OneWorld's business by developing an on-line platform that will allow both individual and business customers to book hotel rooms through the internet.
OneWorld has unique experience and advantages serving customers both originating in China, Hong Kong and Taiwan and travelling to North America, as well as North American Chinese customers travelling to Asia.
According to China National Tourism and Administration Bureau statistics, in 2014, the number of Chinese customers travelling overseas has surpassed 100 million with a total spending over US$1,290 billion. Also in November 2014 after APEC, China and Canada/United States of America mutually agreed to allow 10-year visit and business visa for Chinese visitors and businesspersons travelling to Canada or the United States of America and vice versa. This development should lead to increasing travel business between China and North America.