Key investment points:
Event: on March 29, 2022, the general office of the State Council issued the “14th five year plan” for the development of traditional Chinese medicine, providing further guidance for further improving the development of traditional Chinese medicine services in China, and traditional Chinese medicine ushered in strategic development opportunities.
For the first time, the State Council Office issued and supported the development plan of traditional Chinese medicine, echoed before and after, and gradually improved the top-level design of traditional Chinese medicine development. This is another top-level design after the traditional Chinese medicine law in 2017 and the opinions on promoting the inheritance, innovation and development of traditional Chinese medicine in 2019. It is an important improvement for the development of traditional Chinese medicine and solves some problems that still exist, such as unbalanced development, insufficient resources, insufficient synergy between traditional Chinese and Western medicine, and uneven quality of traditional Chinese medicine; In order to promote the complementary and coordinated development of traditional Chinese and Western medicine, promote the modernization of traditional Chinese medicine and go to the world, provide a more powerful policy guarantee.
Put forward a clear development goal, which will effectively promote the development of traditional Chinese medicine. By 2025, make a clear quantitative plan for 15 indicators such as the number of TCM medical institutions and TCM hospitals, and implement the support for the development of TCM in combination with the guiding opinions on medical insurance supporting the inheritance, innovation and development of TCM at the end of 2021, so as to effectively promote the full range and healthy development of TCM. Among them, the number of TCM medical institutions in China increased from 72300 to 95000; The number of TCM hospitals in China increased from 5482 to 6300; The number of beds in public Chinese medicine hospitals per 1000 population increased from 0.68 to 0.85; The number of practicing (Assistant) doctors of traditional Chinese medicine in health institutions per 1000 population increased from 0.48 to 0.62, and the number of general practitioners of traditional Chinese medicine per 10000 population increased from 0.66 to 0.79.
Put forward ten main tasks and strengthen the organization and implementation. In order to further promote the inheritance and development of traditional Chinese medicine, the state has set up guidance from ten aspects, including: 1) building a high-quality and efficient traditional Chinese medicine service system by strengthening and strengthening traditional Chinese medicine hospitals and improving traditional Chinese medicine departments; 2) By strengthening the characteristic advantages of traditional Chinese medicine in health services, improving the participation of traditional Chinese medicine in the prevention and treatment of sudden infectious diseases and public health events, developing minority medicine, and improving the level of integration of traditional Chinese and Western medicine, so as to improve the health service ability of traditional Chinese medicine; 3) By deepening the educational reform and other ways to build a team of high-quality talents of traditional Chinese medicine; 4) Build a high-level traditional Chinese Medicine Inheritance and protection and scientific and technological innovation system by strengthening the inheritance and protection of traditional Chinese medicine and tackling key problems in key fields; 5) Strengthen the management and safety supervision of traditional Chinese medicine resources to promote the high-quality development of traditional Chinese medicine industry; 6) Promote the elderly health service and traditional Chinese medicine health tourism market to develop traditional Chinese medicine health service industry; 7) By developing the cause of traditional Chinese Medicine Museum, expand the cultural industry to promote the prosperity and development of traditional Chinese medicine culture; 8) Accelerate the opening-up and development of traditional Chinese medicine by expanding the international trade of traditional Chinese medicine; 9) Deepen the reform in the field of traditional Chinese medicine by improving the price and medical insurance policies of traditional Chinese medicine and reforming and improving the registration management of traditional Chinese medicine; 10) Strengthen the support and guarantee for the development of traditional Chinese medicine by improving the informatization level of traditional Chinese medicine. In order to successfully implement the objectives, detailed requirements are made on organization and leadership, investment guarantee and implementation mechanism to ensure the smooth implementation of the plan.
\x02 2) Innovation of traditional Chinese medicine and modernization of traditional Chinese medicine are the core development direction in the future. It is suggested to focus on: Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Guiyang Xintian Pharmaceutical Co.Ltd(002873) , Jiangsu Kanion Pharmaceutical Co.Ltd(600557) , etc; 3) OTC of traditional Chinese medicine is expected to increase both volume and price. It is suggested to focus on: Chongqing Taiji Industry (Group) Co.Ltd(600129) , Jianmin Pharmaceutical Group Co.Ltd(600976) , Henan Lingrui Pharmaceutical Co.Ltd(600285) , etc; 4) Traditional Chinese medicine will become the main anti epidemic force in the post epidemic era. It is suggested to focus on: Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Shandong Buchang Pharmaceuticals Co.Ltd(603858) etc; 5) The medical service sector of traditional Chinese medicine will usher in major development opportunities. It is suggested to focus on: gushengtang, etc.
Risk tip: the implementation of the policy is lower than expected, the risk of centralized purchase and price reduction of traditional Chinese medicine products, intensified industry competition, etc.
