China to consolidate drug market, promote traditional medicines
15-Feb-16, Channel News Asia
China plans to consolidate its huge and fragmented drug market and will support a greater role for traditional Chinese medicines (TCM), the central government said in a statement following a meeting of the State Council.
%20Reuters_Aly%20Song.jpg "China to consolidate drug market promote traditional medicines (c) Reuters Aly Song")
Image: Reuters / Aly Song
China will also strengthen safety controls and traceability of domestic drugs, the statement said, part of an ambitious program of healthcare reforms to improve home-made medicines and reduce reliance on generic and more innovative drugs from overseas.
"Accelerating the development of our domestic drug industry will better serve our people's healthcare needs, help build a healthier China and unleash economic growth potential," the statement posted on the central government website said.