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China issues proposal to promote TCM development

(Xinhua)

13:40, April 27, 2012

Chinese authorities have issued a joint proposal created by 14 government authorities to boost the development of traditional Chinese medicine (TCM), an assistant minister from the Ministry of Commerce (MOC) announced at a Thursday press conference.

The 14 departments include the Ministry of Commerce, State Administration of Traditional Chinese Medicine, Foreign Ministry, Ministry of Finance and Ministry of Health, said Qiu Hong, assistant minister of the MOC.

Qiu said TCM is an important component of China's service trade, adding that the proposal is the result of three years of efforts and research aimed at the global market.

According to the proposal, China will spend five years establishing a TCM trade and management system, as well as create a marketing strategy that is in line with the direction of the international market.

China will also encourage qualified TCM institutions and enterprises to set up overseas branches by establishing joint ventures with foreign companies, with 10 TCM institutions expected to establish such branches by 2015 in southeast Asia, Europe, North America and the Middle East.

TCM is practiced in over 160 countries and regions and has become a health care alternative with increasingly local needs, Qiu said.

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