Recently, the general office of the State Council issued the "14th five year plan" for the development of traditional Chinese medicine. The overall planning goal is: by 2025, the health service capacity of traditional Chinese medicine will be significantly enhanced, the high-quality development policies and system of traditional Chinese medicine will be further improved, the revitalization and development of traditional Chinese medicine will achieve positive results, and its unique advantages in the construction of a healthy China will be brought into full play.
The top-level design helps the high-quality development of traditional Chinese medicine. The document is issued by the State Council office, and the station is high. At the same time, compared with the 13th five year plan, it highlights the top-level design in enhancing the health service capacity of traditional Chinese medicine and promoting high-quality development. We believe that the 13th five year plan for the development of Chinese medicine focuses more on ensuring the availability and accessibility of Chinese medicine services, while the new plan takes into account the reality of the development of Chinese medicine.
Development indicators are set accurately, with more emphasis on the capacity-building of traditional Chinese medicine medical institutions. In terms of specific indicators, the proportion of newly added rehabilitation (medical) departments in TCM hospitals above level II should be increased from 59.43% to 70%; The proportion of fever clinics in three-level public traditional Chinese medicine hospitals and integrated traditional Chinese and Western medicine hospitals should reach 100% (binding indicators); The proportion of geriatrics in public Chinese medicine hospitals above level II should be increased from 36.57% to 60%; The coverage rate of county run TCM medical institutions should reach 100%; The proportion of clinical departments of traditional Chinese medicine in public general hospitals above level II and maternal and child health care hospitals increased to 90% and 70% respectively. The development indicators proposed in the 14th five year plan put more emphasis on the capacity-building of TCM medical institutions, which is expected to drive the construction of many relevant departments, including rehabilitation department, geriatrics department, fever clinic, TCM clinic and so on.
Traditional Chinese medicine benefits from many subdivided fields. New medical infrastructure: this plan pays more attention to the self construction and development of traditional Chinese medicine medical institutions. At the same time, it also clearly points out that it supports the promotion of qualified public traditional Chinese medicine hospital construction projects through local government special bonds and other channels, and encourages financial institutions to provide financial support for qualified projects in the field of traditional Chinese medicine in accordance with the law. The new medical infrastructure deserves attention. Rehabilitation field: the plan points out that the construction of rehabilitation medicine department should be strengthened. With the addition of the previously issued opinions on accelerating the development of rehabilitation medical work and other policies, rehabilitation medical related equipment is expected to lead to a large-scale period. TCM service field: the plan clearly points out that qualified TCM professionals and technicians, especially famous old TCM doctors, are encouraged to set up TCM clinics, and the layout of TCM chain services is expected to be accelerated under the support of policies. In terms of payment: the medical insurance continues to support the inclusion of traditional Chinese medicine medical service projects and traditional Chinese medicine into the medical insurance according to procedures. With the superposition of previous policies, the traditional Chinese medicine industry is still in the dividend period of relevant policies.
Investment suggestion: the 14th five year plan fully promotes the high-quality development of traditional Chinese medicine, and the traditional Chinese medicine industry continues to usher in major historical development opportunities. At the same time, under the multiple background of aging, per capita consumption level and health awareness, the demand for traditional Chinese medicine is expected to continue to release. It is suggested to pay attention to leading companies in related industries such as Beijing Tongrentang Co.Ltd(600085) , China Resources Sanjiu Medical & Pharmaceutical Co.Ltd(000999) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Tianjin Zhongxin Pharmaceutical Group Corporation Limited(600329) and so on.
Risk warning: price reduction risk of centralized purchase; Risk of policy change; Fierce competition and unexpected risks; Risk that marketing and R & D progress is less than expected; Expansion is less than expected risk; Risk of performance not meeting expectations; Risk of continuous deterioration of economic situation outside China; Overall systemic risk of Chinese and foreign markets; Risk of overall deterioration of China US relations; Epidemic situation, geographical conflict, uncertainty risk, etc.
