Chinese pharmaceutical companies boost exports to U.S.

Chinese pharmaceutical companies boost exports to U.S.

LOS ANGELES, Nov. 10 (Xinhua) — Chinese pharmaceutical companies boosted their exports to the United States at an exhibition in Las Vegas on Thursday and Friday, with an actual transaction of more than 2.3 million dollars.

It was the second edition of China Pharmaceutical Ingredients Brand Pavilion, which selected 63 elite enterprises from 20 provinces of China, with a net exhibit area of about 800 square meters.

The Chinese pavilion was staged at Supplyside West, one of the top conventions in the international healthcare ingredients industry, which gathered more than 1,600 exhibiting companies from all over the world.

According to China Chamber of Commerce for Import and Export of Medicines and Health Products, during the two-day event, Chinese exhibitors received more than 3,000 professional customers.

Around 80 percent of those customers are American buyers. According to incomplete statistics, the amount of intentional transactions reached by Chinese exhibitors was over 6.6 million U.S. dollars, and the actual transaction amount was about over 2.3 million dollars.

Wang Maochun, vice president of China Chamber of Commerce for Import and Export of Medicines and Health Products, noted that Chinese medicine has received special attention and recognition from the international healthcare market in recent years.

“With diversified resource and advanced technology, China has become the largest suppliers of plant extracts in the world,” he told Xinhua.

“The United States is the primary export market for plant extract products of China. From 2013 to 2017, China’s exports of plant extracts to the United States totaled 8.86 billion U.S. dollars with an average compound annual growth rate of nearly 15 percent,” Wang said.

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November 15, 2018 / Pharma News