China to streamline imports of US medical devices
15-Apr-15, Medical Product Outsourcing
Chinese trade officials said recently their country will streamline regulations involving the entry of medical devices and pharmaceutical products from the United States. Officials also promised to improve transparency in anti-trust cases involving American firms.
%20Securing%20Industry.jpg "China to streamline imports of US medical devices (c) Securing Industry")
Image: Securing Industry
The commitments come as a result of Joint Commission on Commerce and Trade bilateral talks held between Chinese and U.S. trade officials.
The promises from Chinese regulators about the medical device and pharmaceutical industries “should lead to (an) increase in U.S. exports and U.S. jobs in these two important sectors,” according to a Fox Business report. Industry statistics indicate the trade between the United States and China amounted to $617 billion in 2013.
Despite these moves, however, U.S. companies are still worried that China is reneging on past assurances to open up the market by leaning towards protectionist policies that could favor Chinese companies.