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China expects to raise the total value of its output of traditionalChinese medicine to more than 550 billion yuan ($86.3 billion) by2015, but industrial insiders said yesterday specific andsupportive government measures would be needed to realize thistarget. The traditional Chinese medicine industry is expected to grow at anannual rate of 12 percent on average from 2011-15, ShanghaiSecurities News reported yesterday, citing an unnamed source withthe State Administration of Traditional Chinese Medicine (SATCM),China's traditional medicine watchdog. The authority will encourage new forms of traditional Chinesemedicines to be produced, support the development of plantationbases for rare and valuable wild herbs and help build leadingbusinesses in the sector, said the report. However, developing new traditional medicines has proved asignificant challenge so far, Ming Jianhua with ShanghaiTraditional Chinese Medicine Trade Association told the GlobalTimes yesterday. Ming said it usually takes 10 years to develop a new medicine, andeven then there are risks of the market failing to accept it. Producers of traditional medicine in China are mostly smallcompanies, which have limited resources in research anddevelopment. They also tend to have overlapping businesses, and areunable to realize economies of scale. Plantation bases for wild herbs have high requirements, both infinance and technology, and also represent a challenge for smallbusinesses, especially if they lack financial support or tax breaksfrom local governments, Ming said. There is also insufficient supply of herbs and an absence ofuniform standards for herb evaluation, he said. "Some farmerstend to harvest herbs before their full growth in order to gainprofits, diminishing the effect of the herbs and market recognitionfor traditional medicine." The value of the industrial output of traditional Chinese medicinein 2011 reached 418 billion yuan, recording a year-on-year growthof 37.9 percent, according to the National Bureau of Statistics. But problems in the sector remain. "Unlike Western medicine, traditional Chinese medicine lackssystematic theories to clarify and prove its effects, making ithard for the sector to be industrialized. It also makes it hard toattract investors," Huang Kunyou, an expert with theorganizing committee of the Chinese Medicine Development Forum,told the Global Times. Nonetheless, Chinese firms are eager to expand into overseasmarkets. Exports of traditional Chinese medicine rose in 2011, withexports to the US jumping by 66.3 percent year-on-year. The e-commerce company in China offers quality products such as ITX Computer Case , China Steel Computer Case, and more. For more , please visit Steel Computer Case today!
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