Standardization takes traditional Chinese medicine to overseas markets
Although China has been trying to push traditional Chinese medicine (TCM) to the global market, due to sanitary concerns caused by a lack of standardization in the production process, the confusing methods of cooking traditional Chinese herbs and the logistical challenges that come with it, the process has been slow.
Tianjiang Pharmaceutical based in Jiangsu Province is one of a few companies that turns TCM to formula granule through modern science and technology to bring TCM beyond Chinese borders.
Combining TCM with tech
Tianjiang has gradually moved towards intelligent manufacturing technology and in doing so, it has managed to integrate purchasing, production, and delivery.
Tianjiang established a shared smart distribution center connecting hospitals, doctors and patients to provide efficient, comprehensive and personalized services.
The practice will help to promote the multi-site licensing of physicians, graded diagnosis, and the separation of prescribing and dispensing, Yu Min, general manager of Tianjiang Pharmaceutical, told CGTN.
Tianjiang has maintained a growth rate of 30 percent by riding on the fast track of TCM tradition, the internet and the Internet of Things. The company recently launched an expansion project with an annual capacity of 6,000 tonnes of TCM formula granule. It is expected to achieve six billion yuan (846 million U.S. dollars) when completed next year.
The combination of TCM tradition with modern technology has helped Tianjiang open wider to the overseas markets. Its single prescription drugs and compounded drugs are now available in over 30 countries and regions.
Changes in the TCM industry
Tianjiang has witnessed tremendous changes in the TCM industry since it was established 27 years ago. The government's policy support is one of the driving forces behind the sound development of the industry.
Yu Min said that the TCM industry has changed from tens of billions to trillions of yuan. The small, unorganized business has grown into an intensified high-quality business led by big companies in recent years.
"The government's policy fully supports companies, especially private companies. The tax cuts and fee reductions, for example, give us great vitality," said Yu.
"Based on the figure of last year, we were able to reduce taxes by 50 million yuan (more than seven million U.S. dollars), and this year, it will be even more," Yu said.