ANNOUNCEMENT 04 May 2015In May 2015, the government of China announced a change in import formalities.
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On 4 May 2015, the National Development and Reform Commision issued Notice No. 904 to cancel the market price caps on medicines, except for anesthesia and psychiatric medicines. This policy will be effective on 1 June 2015.
Previously, the price of the medicine in China is highly controled by the government. According to the notice, both local and foreign pharmaceutical companies can now decide their product market price independently. This market liberalization may encourage more innovation and patented medicine to enter China. Numerous pharmaceutical companies and their industry associations have sought the removal of such price controls in foreign markets.