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China will establish a national TCM service trade base which focuses on the US and the North American region, said a health official in Beijing at a forum on May 31.
Li Jiangbin, executive deputy director of the China International Center of Traditional Chinese Medicine under the State Administration of Traditional Chinese Medicine, said the center “intends to cooperate with American Promedic Medical Group and other units to pilot the establishment of an American base for trade in TCM services” at the 2019 China International Fair for Trade in Services (CIFTIS).
At present, under the guidance of the Belt and Road planning of Chinese medicine, TCM enterprises in China are more ambitious and urgent to go overseas, said Li, adding that a good number of TCM companies have limited understanding of the market demand and legal system of foreign countries.
Thus, enterprises are expected to obtain guidance and public services from the industry authorities to lower transaction costs, improve efficiency and competitiveness, noted Li in his keynote speech.
TCM has gained legal status in 50 states in the United States, according to Li. China’s TCM enjoys good support from the American people, society and government.
In an exclusive interview with chinadaily.com.cn, Li said the trade quota of TCM to the US is very low, and the trade friction between the two countries has little impact on traditional Chinese medicine.
When talking about the specific goals, Li said within three years, 60 to 90 TCM enterprises are expected to set foot on the US and more than 100 Chinese herbs and medical devices are set to register with the FDA in the US.
Besides, the center will also help to explore the certification standards and personnel training standards for integrated Chinese and Western medicine medical institutions, and carry out certification and training throughout the US.