Study on the synergistic development of TCM service trade within the GBA

Abstract

Objectives: This study analyzed the synergistic development of the Traditional Chinese Medicine (TCM) service trade within the Greater Bay Area (GBA) in China, aiming to provide suggestions and references for the development of TCM service trade around the world. Methods: Taking the typical and representative Guangdong, Hong Kong and Macao Greater Bay Area as the research object, this paper focused on four modes of “cross-border supply, offshore consumption, commercial presence, and movement of natural persons”, and explored the current situation of TCM service trade from four macroscopic aspects: political, economic, social, and technological, through case studies. The challenges in the development of TCM service trade were analyzed. Results: Our study found that the degree of synergistic openness of Guangdong, Hong Kong and Macao needs to be improved. The integration of trade in TCM services is the integration of TCM services with tourism. However, there is a relative lack of human resources in TCM in Hong Kong and Macao, with weak competitiveness of service bases. The resources of TCM services are still under-utilized, and the GBA market of TCM services lacks momentum. Conclusions: We have come to the conclusion that the GBA need to promptly improve the unified standard system of TCM service trade. Actively building cultivating a “Bay Area GBA brand” for TCM service trade, steadily building a social climate in support of TCM service trade and vigorously promote the development of TCM service trade through digital technology, thus promoting the synergistic development of TCM service trade within the GBA.

Keywords

• Traditional Chinese medicine
• Service trade
• Greater bay area
• Integration