A summit focusing on the high-quality development of the traditional Chinese medicine (TCM) industry was held from Dec 15 to 16 in Pengzhou city, Southwest China's Sichuan province.
The 2022 TCM Industry High-quality Development Summit drew online and in-person participation of more than 1,000 experts, government officials and representatives from pharmaceutical companies including Taiji Group, Buchang Pharma, and Astrazeneca.
Experts, scholars and TCM entrepreneurs held discussions on themes including the inheritance, innovation and revitalization of TCM, how to promote TCM in the international market, and shared their insights on the future development of the TCM industry.
The China TCM Development Index (Pengzhou Index), the first of its kind in China, was released at the summit. Jointly established by the Pengzhou municipal government, Chengdu University of Traditional Chinese Medicine and CCID Consulting Co Ltd, it is a platform for the monitoring, researching and releasing of new information regarding the TCM industry.
The TCM collaborative innovation platform and a research project on TCM industry and rural revitalization were also launched at the summit. The move is aimed at promoting the innovative development of the TCM industry and boosting rural vitalization.
Pengzhou is the earliest TCM industrial base in Sichuan, with the strongest comprehensive knowledge and the most complete industrial chain in the province. It is home to more than 200 pharmaceutical and health companies, with ten TCM products, each with an annual sale revenue of more than 100 million yuan ($14.34 million).
The city has attracted 11 leading talents in the TCM industry to develop new drugs and conduct scientific research in Pengzhou. The local government is also cooperating with the Chengdu University of Traditional Chinese Medicine to jointly build a platform called Tianfu TCM Innovation Harbour, with a total investment of 5 billion yuan. It will include a graduate school, a modern TCM industry school, an industrial research institute and a university-enterprise joint laboratory.
Local officials said the city will strive to build a high-quality, domestic and modern industrial base which will involve the whole TCM industrial chain. It will be a new marker of success for the innovative development of the TCM industry. The revenue of its TCM industry is expected to exceed 40 billion yuan by the end of the 14th Five-Year Plan (2021-25).