China pharmaceutical industry sees steady growth

BEIJING -- China's pharmaceutical industry, despite the challenges resulted from sluggish economies in the European Union and United States, has managed steady growth in 2013, official data showed.

Main business revenues in the industry amounted to 2.17 trillion yuan ($355.4 billion) last year, a year-on-year increase of 17.9 percent, said a statement on the website of the National Development and Reform Commission.

The pharmaceutical industry saw profits rise 17.6 percent to 219.7 billion yuan last year, with fast growth seen in Traditional Chinese Medicine, according to the commission.

In 2013, exports and imports in the industry totalled $89.7 billion, rising 10.3 percent from the year earlier. Exports gained 6.8 percent while imports jumped 15.2 percent, the statement said.