Chen Ning Yang, a Chinese-American Nobel laureate, called for the modernization of traditional Chinese medicine at an international symposium held Tuesday in Shanghai.

The symposium gathered together some 200 Chinese and overseas pharmaceutical and Chinese medicine experts to discuss ways to increase recognition of traditional Chinese medicine on the international market.

The scientist said that traditional Chinese medicine should be developed not only to invigorate the industry but also to let it benefit people around the world.

He said that in the next 30 to 40 years, the world's fastest growing markets will be seen in three sectors, computer chips, medical science and drug-making, and bio-engineering.

These three industries will lead the world's economic growth, said Yang.

He said the artificial cultivation of rare herbal plants for mass production with the related certification from international drug administration authorities will be a significant start to push forward the development of the industry.

Sources with the symposium said that while the effects of natural drugs are widely respected, the lack of industrial standardization, product variety and marketing have hindered the development and sales of traditional Chinese medicine.

Although China boasts rich resources and well-developed technology for the production of traditional Chinese medicine, it lags behind Japan and the Republic of Korea in the sales of herbal medicines.

The international sales of herbal medicines amount to 20 billion U.S. dollars a year. China has obtained only three percent of this share.