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China to double traditional medicine output in 10 years

(Xinhua)
Updated: 2009-07-01 17:09

China will double its traditional medicine output to 400 billion yuan ($58.5 billion) in about ten years, according to a report.

The country will speed up the modernization of traditional Chinese medicine (TCM) with standardized planting and processing and enhance innovation in the industry, said the report released by the China National Center for Biotechnology Development at a recent bioeconomy forum in Tianjin.

Related readings: Govt names top 30 TCM masters  Govt gives a boost to TCM use   Pharma, TCM makers gear up  China to set up TCM hospital in Russia

Last year, the country's production of the TCM sector was valued at 200 billion yuan.

The country's exports of TCM products reached $1.3 billion in 2008, compared with $720 million in 2003.

In May, the State Council, or the Cabinet, issued a set of policies,including more government investment, to support the sector's development.

The practice of TCM, evolved over thousands of years based on the observation of nature and the human body, includes herbal medicine, acupuncture, dietary therapy and massage.

Last year, more than 300 million people visited hospitals for TCM treatment in China.