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TCM's Output To Hit RMB 400 Billion Over Next Decade

This article was originally published in PharmAsia News

Executive Summary

At the recent 2009 International Conference for Bioeconomy, the Ministry of Science and Technology's China National Center for Biotechnology Development disclosed that the country will further push for TCM modernization and establish a healthcare system of integrating Western and Chinese medicine. TCM industry value is expected to hit RMB 400 billion ($58.5 billion) over the next 10 years. In addition, China will make TCM healthcare a key pillar for the population, such that 85 percent of rural residents can access such medical services. TCM industry value has been increasing at an average annual rate of 20 percent in recent years to reach almost a hundred billion renminbi, higher than the pharmaceutical industry's average. (Click here for more - Chinese Language)

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