China's export of pharmaceuticals is expected to continue its fast growth this year, despite the impact of trade conflicts and a revaluation of China's RMB currency.

It is predicted that the global pharmaceutical market will grow at an annual growth rate of about 5 percent over the next few years, China Daily reported on Wednesday.

"Global demand for China's pharmaceuticals is strong," Cui Bin, deputy secretary-general with the China Chamber of Commerce for Importers and Exporters of Medicines and Health Products, was quoted as saying.

An increasing number of Chinese pharmaceutical companies, in particular privately-owned firms in coastal areas, are eyeing the international market, Cui said.

According to statistics from China's customs, 15,271 domestic companies were involved with medical exports in 2005, and China's export of pharmaceutical products totaled 13.8 billion U.S. dollars last year, up 28.14 percent from 2004.

"This is the first time the growth rate surpassed the country's overall export growth," Cui said.

Chinese pharmaceuticals now reach over 214 countries and regions across the world, said Cui, who also noted that the exports are mainly focused on pharmaceutical ingredients, and face an increasing number of trade conflicts with major trade partners.

For instance, Six Chinese vitamin C producers were accused by two U.S. rivals of violating the U.S. Anti-trust Law last year. Penicillin salt is also facing dumping claims initiated by Indian companies.

Cui said the main cause was that some major trade partners, such as the European Union and the United States, had not yet recognized China as a full market economy.

"Domestic companies are working to counteract the on-going dumping claims," Cui said. "They understand that they might totally lose the target market if they do not respond."

However, he said, it is more important for them to promote the quality of their products.

Source: China Daily