Yangtze River Pharmaceutical (Group) Co., Ltd. Won the 2021 EFQM Global Award

TAIZHOU, China, March 8, 2021 /PRNewswire/ -- At 19:20 on March 4, 2021 (Beijing time), the results of the 2021 EFQM Global Award were announced. Yangtze River Pharmaceutical (Group) Co., Ltd. from China was on the list, which represents that its quality management level has been aligned with that of world-class companies, and has won praises from the world for "Made in China".

"Applying for the EFQM Global Award is a fusion of Chinese culture and European culture, a bridge connecting Chinese quality and European quality, and a mutual learning between Chinese management model and EFQM model. We will continue to promote the application of the EFQM model to serve the health of all mankind," Mr. Xu Jingren, chairman of Yangtze River Pharmaceutical Group, said.

A total of 12 organizations around the world have won the 2021 EFQM Global Award, and 2,200 people from 94 countries participated in the ceremony online. This is the first pharmaceutical company in the world to win the award after the promotion and implementation of the new EFQM model in 2019. Its CEO, Li Sen, attended online and addressed on behalf of the company.

The EFQM Global Award is one of the three major quality awards in the world, and is as famous as the Baldrige National Quality Award and the Deming Prize. In 1991, it was initiated by the Vice-President of the European Commission, Martin Bengeman, jointly initiated by the European Commission, the European Organization for Quality (EOQ) and the European Foundation for Quality Management (EFQM), and awarded once a year. It is for every high-performance organization in the world, focusing on the recognition of performance excellence companies and helping all applicants pursue excellence. The EFQM Global Award uses the EFQM model to systematically evaluate the applicants. EFQM organized a survey and research of nearly 2,000 change experts, held 24 internal seminars, and had face-to-face exchanges with leaders of more than 60 different organizations. A core team composed of experts from different industries and academia was formed to define a new version of the EFQM model, which was transformed from an assessment tool into an important management framework and methodology, including three aspects (direction, execution, and results), seven criteria, and 30 sub-standards, paying more attention to ecosystem, circular economy, transformation and sustainable development.

Yangtze River Pharmaceutical (Group) Co., Ltd. has participated in the training and introduced the new EFQM model since April 2020, then submitted the EFQM Global Award application in November and successfully passed the document review. In January this year, an assessment team of 8 experts from different countries conducted an on-site assessment of the company. Affected by COVID-19, this assessment was conducted by a combination of site visit and online interviews. In the 5-day on-site assessment, in addition to the opening meeting, closing meeting and 4 mirror meetings, the assessors held 34 interviews for employees at all levels of the company, proposed 552 interview topics and interviewed 277 employees regarding the development and implementation of strategies, challenges and opportunities, organizational culture, changes, ecosystem and interactions with stakeholders. The assessment team pointed out in the feedback report that Yangtze River Pharmaceutical (Group) Co., Ltd. has established a distinctive development concept, and its quality culture of "Manufacture Medicines for Parents, Manufacture Medicines for Relatives" and the corporate mission of "Commit for Better, Dedicate for Caring All" have been deeply rooted in the hearts of the people, and provide many best practices for industry development. The assessment team unanimously affirmed the company's management strengths in six aspects: quality risk control mode and quality culture, value creation, customer engagement, leading its ecosystem, leading in the field of traditional Chinese medicine, and strong business performance.

In the context of the signing of the China-EU Comprehensive Agreement on Investment (CAI), it is of special significance to apply for this award. In the future, Yangtze River Pharmaceutical Group will continue to benchmark advanced international management concepts, strengthen international exchanges and learning, and promote high-quality and sustainable development of the company.

SOURCE Yangtze River Pharmaceutical Group

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