Guizhou TCM industry achieves rapid growth in H1

Since committing itself to the development of Traditional Chinese Medicine (TCM) in the beginning of this year, Southwest China's Guizhou province has achieved significant progress in this industry's output in the first half of this year.

By the end of May, the area in which TCM herbs are planted reached 6.25 million mu (416,760 hectares), an increase of 15.2 percent. Meanwhile, the output exceeded 160,400 metric tons, an increase of 21.7 percent, with output value hitting 2.25 billion yuan ($316.82 million), an increase of 82.4 percent.

Guizhou has focused on TCM development in poverty-stricken counties and areas by providing 36 million yuan to build 12 production bases. The province has set up expert teams to provide technology training and guidance for every low-income family.

Guizhou has also enhanced the planting of dendrobium. The planting area of dendrobium in the province reached 159,500 mu as of May 31, including 67,800 mu of dendrobium officinale and 91,700 mu of dendrobium nobile. Both are the largest in China.

By establishing a 20-million-yuan venture fund and cooperating with provincial agricultural credit guarantee companies, Guizhou has innovated the financing of key TCM products in 10 major counties and areas.

In the second half of this year, Guizhou will focus on featured TCM products, industrial chain construction, brand building and quality control, while supporting financing innovation and the establishment of a traceability system and e-commerce platform.