Purchasing traditional Chinese medicine materials from Russia and Indonesia would help stabilize the prices of TCM materials and promote the sustainable development of the industry, according to Guangzhou Pharmaceutical Holdings Limited, a leading TCM manufacturer.
The company, based in Guangzhou, the capital city of Guangdong province, has recently announced a plan to purchase nearly 30,000 metric tons of TCM materials from Russia and Indonesia in the next five years.
Specifically, the company would purchase almost 20,000 tons of TCM materials, including licorice, Astragalus and Schisandra chinensis from Russia, and close to 10,000 tons of materials, including frangipani from Indonesia, with an import value worth 1.3 billion yuan ($181.96 million).
With its cold weather and rich biodiversity, Russia produces a variety of cold-region herbs. Meanwhile, Indonesia is one of the main producing countries for frangipani, a key ingredient in the company's herbal tea beverages, according to Wu Changhai, deputy general manager of GPHL.
The company would also work closely with its counterparts from Russia and Indonesia to carry out cultivation, breeding, production and processing of key medicine materials and rare animal medical materials.
"In addition to helping diversify resources of TCM materials, the purchasing would also promote cooperation in TCM with countries and regions related to the Belt and Road Initiative," said Wu.
Imported medicinal materials are a significant source of China's TCM industry. China's revised measures to administrate imported medicinal materials, which was implemented in 2020, encourage such imports.