China’s southwestern Guizhou province plans to invest 524.8 billion yuan ($76.3 billion) in supporting 320 health projects by 2018, a latest endeavor to further boost the healthcare industry, said a local government official. The output of the healthcare sector in the province is projected to reach 400 billion yuan in 2020, accounting for 10 percent of the province’s GDP, according to Zhang Ping, deputy director of the Guizhou Provincial Development and Reform Commission…Full Article: Dec 2016

Key Points

  • According to the Deputy Director of the Guizhou Provincial Development and Reform Commission, Guizhou Province produces 1.81 million MTs of herbal medicine (i.e. TCM) annually on approximately 364,666 hectares of land
  • Over the next five years, Xiuzheng Pharmaceutical Group (Changchun, Jilin Province) plans to invest CNY 1 billion [~US$143.8 million] in their Guizhou business unit.

ChinaAg Comments

  • In 2015, China’s ginseng industry totaled US$2.9 billion in sales (by volume). Jilin Province accounts for the bulk of the country’s ginseng production.
  • In 2013, sales in mainland China of TCM products totaled approximately CNY 120 billion (~US$19.3 billion).
  • Founded in 1995 and headquartered in Changchun, Jilin Province, Xiuzheng Pharmaceutical Group is a producer and distributor of traditional Chinese medicine (TCM) products and other healthcare products.

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