The first joint venture between a Chinese state-owned enterprise and a foreign investor in the exhibition industry has gone ahead with Colin Ng & Partners and PRC firm RayYin & Partners advising on the deal.

Reed Exhibitions formed a joint venture with China National Pharmaceutical Group (Sinopharm) and bought a 50% stake in its subsidiary, China Pharmaceutical Exhibition Corporation (CPEC).

Young Chee Foong, a partner at Colin Ng advised Reed Exhibitions on the deal.

Sinopharm is the largest pharmaceutical company in China while Reed Exhibitions is a world-leading organizer of trade shows.