Guangzhou Pharmaceutical Holdings Limited, a company engaged in research, manufacturing and selling of medicines, announced on Tuesday a fund to support rural revitalization, said the company.

The fund, worth 1 billion yuan ($150 million), will invest in Southwest China's Guizhou province, to back development of the local roxburgh rose industry within the next five years.

"We will accelerate technological research of the roxburgh rose and expand farming of the plant in Guizhou, to launch more healthy products made of the roxburgh rose in the years ahead," said Li Chuyuan, chairman of Guangzhou Pharmaceutical Holdings.

Since 2018, the company has teamed up with the Guizhou government to launch a series of products made of the roxburgh rose. Sales of the Ciningji Roxburgh rose juice, which contains high volume of vitamin C, surpassed 500 million yuan in 2020.