Economy

Exports of TCM reaches $1.46b: official

(Xinhua)
Updated: 2010-08-09 11:04

BEIJING - Exports of traditional Chinese medicine (TCM) in the global market were valued at $1.46 billion, Wang Guoqiang, director of the State Administration of TCM, said Saturday.

Wang, also vice minister of the health ministry, said the number of countries and regions which recognize the advantages and special features of TCM in treating modern diseases were on the rise and many countries were seeking cooperation with China on TCM.

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TCMs are mostly mixtures of a number of ingredients or medical plants such as herbs, which makes them much more difficult to explain and analyze in a quantitative sense than western drugs.

One major obstacle Chinese drug firms face when obtaining market approval in the US and European countries is how to explain how traditional Chinese medicines work using a scientific language that appeals to Westerners.

China has so far signed more than 90 pacts that partially or exclusively touched on TCM cooperation with more than 70 countries and regions.