This week, the United States and China continued to take action on commitments made during the leaders’ meeting in October.
On January 17, 2017, the State Council issued a circular on a new foreign direct investment policy to open up China’s economic system. At first glance, it would appear that this policy is a reaction to the slowdown in China’s economy. However, in actuality, this recent initiative is connected to a longer-term effort, formulated in 2012, which aims to gradually open up Chinese markets to foreign direct investment (FDI) and to more closely conform with international standards. Understanding the historical background of this policy is important, as it can shed light on the Chinese Government’s long-term objectives and the potential ramifications of the recent legislation.
Recently announced provincial reimbursement drug lists (PRDLs) provide possible new opportunities for US pharmaceutical companies seeking to expand market reach for their drugs in China. These updated subnational lists largely reflect the national reimbursement drug list (NRDL), which was released by the Ministry of Human Resources and Social Security (MOHRSS) on March 17 for the first time in eight years. However, some PRDLs include potential new openings for drugs that were not among the 300 added to the most recent NRDL update.
