Bear medicine is one of the most popular and widely used herbs in the world.
The herb has been used in traditional Chinese medicine for centuries, but now, it has become a major export.
Bloomberg reports that China is investing in its domestic bear market to keep up with the demand.
Bloomberg notes that Chinese medicine giant China Huaxia plans to invest $500 million in bear and tiger medicine.
China’s domestic market is expected to grow to $1.5 trillion by 2030.
China Huacaxia has previously invested in bear medicine, but the company says it’s focusing more on tiger medicine and that the bear market will become more competitive.
China is not the only country investing in bear medicinal products.
Other countries are also investing in them.
Brazil is investing $300 million in the bear medicine industry, while Argentina is developing a bear medicine plant in Argentina.
Colombia is investing around $200 million, as is Russia.
China, the Philippines, Indonesia, India, the United Kingdom and the United States have all announced bear medicinal investments.