China remains committed to opening up its pharmaceutical market despite the the wider global trade conflict. Beijing recently made 48 drugs that have already been approved in the US, Europe or Japan eligible for fast-track approval, as part of a broader effort to reduce red tape in its drug-approval processes. The US has also imposed tariffs on Chinese steel and aluminum imports, which could hurt American manufacturers who rely heavily on those imports.
China remains committed to opening up its pharmaceutical market despite the the wider global trade conflict. Beijing recently made 48 drugs that have already been approved in the US, Europe or Japan eligible for fast-track approval, as part of a broader effort to reduce red tape in its drug-approval processes. China’s pharma market is the world’s second largest after the US, and the country is working to address issues of steep prices, shortages of supply and drug safety that have led to widespread discontent.