China's TCM industry grows by 20% to top $130bn

By Gary Scattergood contact

- Last updated on GMT

China passed its first law on TCM earlier this year. ©iStock
China passed its first law on TCM earlier this year. ©iStock
The traditional Chinese medicine industry grew by 20% in China in the past year, according to the State Administration of Traditional Chinese Medicine (SATCM).

The sector earned more than RMB860bn (about $130bn) last year, accounting for one third of the country's total medical industrial output, said Wang Guoqiang, head of the SATCM.

This year, China passed its first Law on TCM to increase investment, training, and industry growth.

The law, which will take effect on 1 July, 2017, stipulated that county-level governments and higher must set up TCM institutions in public-funded general hospitals, as well as care centres for mothers and children. 

Furthermore, all All TCM practitioners now need to pass tests and be recommended by two qualified TCM professionals.

This means that legally, TCM and Western medicine are on equal footing, with the government wanting both to complement each other.

There are currently 482,000 TCM practitioners in China.

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