The traditional Chinese medicine (TCM) industry in China grew by 20 percent in the past year, according to the State Administration of Traditional Chinese Medicine (SATCM).
The sector earned more than 860 billion yuan (about 130 billion U.S. dollars) last year, one third of the country’s total medical industrial output, said Wang Guoqiang, head of the SATCM.
The Law on Traditional Chinese Medicine went into effect on July 1,to regulate and support the development of the industry.
With a history of more than 2,000 years, TCM has unique theories and practices in herbal medicine, acupuncture, massage and dietetics.
There are 482,000 TCM practitioners in China now.