Costing as much as $100,000 per product, China’s new “blue hat” registrations are continuing to gain attention in the dietary supplement industry’s regulatory sector.
According to the U.S. – China Health Products Association, registration agents are typically hired to assist in navigating the process and keep the procedure moving forward, which can take up to three years depending on the trials and testing involved with registrations.
Citing the difference between domestic and foreign registrations between 2010 and 2013 at 3,154 domestic and only 56 foreign, the U.S. – China Health Products Association reports the above system has allowed a select group of companies to monopolize the industry.
A recently released export potential report by the U.S. – China Health Products Association revealed the registration back up is not only effecting growth, but trade as well with the U.S. dietary supplement industry losing in excess of $8 billion in exports to China as well as more than 2,700 jobs that would be created as a result of these exports.
For more information, visit www.uschinahpa.org/2014/06/china-considers-positive-changes-to-its-dietary-supplement-industry.