BEIJING, June 16 (Xinhua) -- China Development Bank (CDB), the country's major policy bank, signed a memorandum of understanding (MOU) with the National Administration of Traditional Chinese Medicine on Monday, in a bid to work together to promote the high-quality development of traditional Chinese medicine (TCM).
According to the MOU, the National Administration of Traditional Chinese Medicine will give a full display of its role as an administrative authority, and strive to support the development of TCM through policy formulation, financial funds and engineering projects.
Meanwhile, CDB will include TCM into its key support area, innovate financing models and support the development of TCM through multiple ways such as investment, loans and debts.
The two sides will focus on building key TCM brands, helping TCM step up its pace in going global, accelerating the training of related talents and promoting the establishment of TCM development funds.
CDB has been providing continuous financial support for the development of TCM industry. By the end of May, it had offered a total of 16.3 billion yuan of loans to the industry. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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