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Hong Kong is planning to open the city"s first-ever public Chinese medicine hospital, said Chief Executive of China"s Hong Kong Special Administrative Region Carrie Lam on Sunday.

Chinese medicine is a treasure of Chinese traditional culture and health, Lam said in a speech at Hong Kong International Summit on Chinese Medicine organized by Hong Kong Registered Chinese Medicine Practitioners Association.

An organization under the Food and Health Bureau has been established to develop the traditional Chinese medicine (TCM) industry, said Lam.

She said Hong Kong plans to earmark 500 million HK dollars to support TCM growth and improve its role in the city’s health system. TCM will also be given priority in seven hospitals under the administration of Hong Kong’s Hospital Authority.

Other measures include the expansion of TCM standards research and establishment of a test center under the management of Hong Kong"s Department of Health. Industrial parks will also offer innovation platforms to boost TCM development.

Feng Jiu, chairperson of Hong Kong International Summit on Chinese Medicine, said Chinese medicine practitioners should aim at long-term strategies and operational models while the city should seize development opportunities in the "Belt and Road" initiative to prepare Chinese medicine for international development.