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CDB Works with NATCM to Support the High-Quality Development of Chinese Traditional Medicine

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Time:2020-06-15  Source:CDB

On June 15, 2020, CDB and the National Administration of Traditional Chinese Medicine (“NATCM”) signed the Memorandum of Cooperation on Development Finance to Support the High-Quality Development of Traditional Chinese Medicine (the “MoC”) in Beijing. Zhao Huan, Chairman of CDB, and Yu Yanhong, Secretary of NATCM’s CPC committee, attended the signing ceremony, where Ouyang Weimin, President of CDB, and Yu Wenming, Director of NATCM, signed the MoC on behalf of the two parties.

Under the framework of the MoC, NATCM will give full play to its organizational advantages as a governing body, and support the development of traditional Chinese medicine (“TCM”) through policy formulation, financial funds, and projects, while CDB will include TCM in its priority areas of support, and encourage innovation in the financing options, so as to support TCM development by way of investment, loans, debt, leasing, and securities. Both parties will focus on supporting the high-quality development of the TCM industry, building major TCM brands, commercializing TCM innovations, improving TCM-related services, expanding business and investment overseas, cultivating talent, and serving national strategies. Both parties will promote and participate in the establishment of development funds dedicated to the TCM industry in leading regions of competitive advantages, boost innovation while preserving heritage, and develop a balanced healthcare system with Chinese characteristics, which places equal importance on Chinese and Western medicine, and in which Chinese and Western medicine can complement each other and develop in a coordinated manner, helping to enhance the international influence of TCM.

For years, CDB has provided continuous financial support to the TCM industry. As of the end of May 2020, CDB had granted loans worth 16.3 billion RMB in total to the TCM industry, with a focus on the building of the service system, drug manufacturing, herb growing, and the building of the circulation and supply system.