The Guangdong Provincial Government recently announced the expansion of the "Hong Kong and Macao Medicines and Equipment Links", simplifying the sales procedures of local traditional Chinese patent medicines for external use into the Mainland, and allowing local Chinese medicine practitioners to practice in the Greater Bay Area on a trial basis.
Shao Jiahui, Member of the Liberal Party Legislative Council, and others have a tea gathering with the media today (7th).
Li Yingsheng, Chairman of the Hong Kong Federation of Chinese Medicine and Chinese Medicine Industry and Chairman of Baichengtang Group, said that the industry is pleased to see the implementation of Hong Kong's simplified approval policy and praised the policy for the development of the Chinese medicine market.
He expects that the first batch of about 20 proprietary Chinese medicines for external use will be formally approved as soon as October this year, and will be sold nationwide after successful approval.
Liberal Party Legislative Council Member Shao Jiahui (middle) and others have a tea gathering with the media today (7th).
(Provided by interviewee)
The Legislative Council Member of Wholesale and Retail Sector Shao Jiahui said that he is grateful for the support of the national and Guangdong authorities, as well as the assistance of the Hong Kong government, for the recent promulgation of a number of favourable Hong Kong policies.
He pointed out that Hong Kong’s traditional Chinese medicine industry is a good starting point for the development of the Greater Bay Area. He hopes that there will be more favorable arrangements in the future so that more local industries can enter the Mainland and integrate the development pattern of the domestic cycle. He hopes that all industries can seize the opportunity. .
Li Yingsheng pointed out that the industry is very pleased to see the implementation of the simplified approval policy for Hong Kong and Macau Chinese medicine entering the Greater Bay Area this year.
(Provided by interviewee)
Li Yingsheng, chairman of the Hong Kong Federation of Chinese Medicine and Chinese Medicine Industry and chairman of the Baichengtang Group, said that the listing of Chinese medicines in Hong Kong requires several years of approval, which hinders the development of Chinese medicines in the Mainland.
The industry is very pleased to see the implementation of the simplified approval policy for Hong Kong and Macau Chinese medicine entering the Greater Bay Area this year. It is now a "first trial". External use of Chinese medicine is integrated into the Greater Bay Area, and the policy will gradually be applied to other cities in the Mainland.
The sales target and customer base of proprietary Chinese medicines has opened from 7 million to 1.4 billion, which is beneficial to the development of the Chinese medicine market. It is expected that the first batch of about 20 proprietary Chinese medicines for external use will be formally approved as soon as October this year. It is sold nationwide.
And Lu Weiqiang, chairman of the supervisory board of the Hong Kong Chinese Medicine Association and chief executive officer of Lingnan Pharmaceutical Factory, said that as long as the external medicine has been on the shelves for 5 years and the required documents are submitted, the approval time can be accelerated from 235 days to 115 days.
He pointed out that the integration of the Chinese medicine industry into the Greater Bay Area presents unlimited business opportunities for Chinese medicine manufacturers. Sales are expected to increase by 30 to 50% within a year. If they are sold nationwide, sales can double.
The first batch of "Hong Kong-Macao Medicine and Equipment Exchange" policy will be implemented. 5 hospitals will be expanded to 9 cities in the Greater Bay Area. The construction of Shenzhen Pingshan, a well-known medical clinic in Hong Kong, will start. Will be able to use Hong Kong and Macau listed drugs
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