The past decade has been a successful period for China’s life sciences industry as the sector expanded at a faster rate than the economy as a whole.
China’s government has set itself the ambitious target of providing affordable and effective healthcare for all its citizens, while at the same time fostering the development of the country’s domestic life sciences industry so that it is capable of delivering high quality products and services. Over the next few years, the government is expected to continue with its programme of reforms to help achieve these goals. These reforms will centre on reducing the price of drugs, accelerating the approval process for new drugs, channelling more funding into R&D and allowing market forces to play a greater role in determining prices.
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