Medical firms see healthy foreign trade growth

China's medical foreign trade grew by a record 10.5 percent in 2012, a figure that is expected to surge even higher this year, the industry's chamber of commerce said on Tuesday.

Statistics from the China Chamber of Commerce for Import & Export of Medicine & Health Products, an organization under the Ministry of Commerce, showed that the export and import volume of China's medical industry totaled $80.95 billion in 2012, a year-on-year rise of 10.5 percent. The chamber forecast a 12 percent increase this year.

The continued increase can be attributed to overseas expansion efforts by Chinese drugmakers and medical device manufacturers, including mergers and acquisitions and overseas listings, as well as growing international recognition of Chinese medicines and medical equipment, said Xu Ming, vice-president of the chamber.

Chinese companies are actively expanding overseas, not only exporting their products but also consolidating their overseas presence through M&As, organic growth and listings.

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