Despite escalating global trade tensions, there is at least one area in which China is still opening up—pharmaceuticals. The country’s Center for Drug Evaluation, China’s version of the Food & Drug Administration, this week made 48 drugs that have already been approved by regulators in the U.S., Japan or Europe eligible for fast-track approval, without additional domestic trials. The move is consistent with Beijing’s policy announced last October to cut red tape around its drug-approval processes. ...
China remains committed to opening up its pharmaceutical market despite the the wider global trade conflict . Beijing recently made pharmaceutical drugs that have already been approved in the uk , 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 pharmaceutical market is the world ’s second largest after the uk , and the country is working to address issues of steep prices , shortages of supply and drug safety that have led to widespread discontent .