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China will invest 100 million yuan (US$12.5 million) in a bid to find traditional medicine remedies for diseases such as cancer and AIDS, the Ministry of Science and Technology announced yesterday.
The money will go to 50 co-operative programmes by the end of the year, including for the first time international partnerships. They will aim to develop new treatments for neuroses, cardiovascular and cerebrovascular diseases, cancer and AIDS.
"The new project aims to modernize traditional medicines," said Shang Yong, vice-minister of science and technology.
According to Shang, a number of countries including the United States, Japan and Singapore have expressed their interest in the project.
"We will lay out programmes tailored for different regions," he said.
As well as partnerships with countries that boast rich funding and human resources, China will offer technological assistance to developing countries.
A good example is artemisinin, a herbal medicine regarded as the best treatment for malaria, which is highly recommended to African countries.
"For Africa, artemisinin is probably our first choice for collaboration," said Jin Xiaoming, a senior official with the ministry.
The official noted that by 2005 the country had traditional Chinese medicines (TCMs) agreements with 70 countries, meaning confidence is high for this project.