China's TCM giant to import medical herbs from Russia, Indonesia

GUANGZHOU, July 18 (Xinhua) -- China's leading traditional Chinese medicine (TCM) manufacturer, Guangzhou Pharmaceutical Holdings Limited (GPHL), Tuesday announced a plan to import nearly 30,000 tonnes of TCM materials from Russia and Indonesia in the next five years.

On the same day, a subsidiary of GPHL signed agreements to purchase almost 20,000 tonnes of TCM materials, including licorice, Astragalus and Schisandra chinensis from Russia, and close to 10,000 tonnes of TCM materials, including frangipani from Indonesia, with a total estimated value of about 1.3 billion yuan (182 million U.S. dollars).

The GPHL said the purchase would stabilize the prices of TCM materials and promote the sustainable development of the industry.

With its cold weather and rich biodiversity, Russia produces a variety of cold-region herbs, said Wu Changhai, deputy general manager of GPHL. He added that Indonesia is one of the main producing countries for frangipani, a key ingredient in the company's herbal tea beverages.

Imported medicinal materials are a significant source of China's TCM industry. China's revised measures to administrate imported medicinal materials, implemented in 2020, encourage such imports.