(China) Traditional Chinese medicine and Tibetan medicine wins governmental support in Gansu Province :: BiotechEast - Taiwan and China biotechnology, medical devices, pharmaceuticals, ^¤å½s×, ^¤å×§ï ::

(BiotechEast staff)

22 April, 2005
With the aim of consolidating the traditional Chinese medicine and Tibetan medicine industry, Gansu Province recently hosted a seminar on rejuvenating and nurturing the province’s TCM and Tibetan medicine enterprises to become a leading component of Gansu’s economic growth, according to mainland media reports.

During the seminar, the government stated its intention to offer strong incentives to around10 to 20 traditional Chinese or Tibetan medicine enterprises whose annual sales top one hundred million yuan (US$12 million).

Gansu Province, one of the main herbal production areas in China, is home to more than 9500 species of medicinal plants, with 450 medicinal plants currently being harvested for medicinal use including angelica, rhubarb, liquorices etc.

Yang Zhiming, vice governor of Gansu Province, pointed out that the twin pillars of traditional Chinese medicine and Tibetan medicine have synergistic benefits similar to those found in the petrochemical and machinery industries already prevalent in Gansu.

However, he stated that so far the development rate of the herbal medicine industries has been relatively slow.

With the goal of producing an output value of 10 billion yuan (US$1.2 billion) by 2010, Gansu province will emphasize scale operation, high grade varieties and a high quality management of the industry. Preferential policies will be implemented for the companies exhibiting strong revenue potential, such as diversified property rights, sharing of technological expertise and discount loans among others.

These kick-start measures are seen as being crucial to the overall economic development of Gansu province.

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