It has been reported that a notice seeking public comment around a proposed ban on hemp is being circulated in China. As a result the Chinese hemp related stocks are taking a huge hit, as it were. If the ban were made law, those companies working with hemp derivatives would be punished. While China is providing 70% of the worlds hemp, it is coming from only 2or 3 of 34 provinces. These provinces are obviously heavily invested in the crop and their economies relying on maintaing these Marijuana Related Business.
China has been actively pursuing the development global hemp infrastructure and is one of the oldest cultures in the known world to have made tremendous use of the plant for the purpose of food and medicine. Sadly it is reported that they will likely ban "Cannabis sativa fruit, cannabis sativa seed oil, cannabis sativa leaf extract and cannabidiol" and are saying they are interestingly accepting feedback until 4/20.
Hemp has caused the pharmaceutical industry to take quite a hit, as it were, and it's no secret that China is heavily invested in pharmaceutical manufacturing, and it is well known the presence and availability of cannabis treatment has resulted in significant losses from the so called Big Pharma. Perhaps there is a collusive piece in this suggestion of a possible ban, however,
If China foolishly bans it there are no shortage of South American Nations that cann deliver.
Ask Isaiah Thomas.