On January 26, the National Health and Family Planning Commission of the People’s Republic of China issued the “Notice of Health and Family Planning Working Essentials for 2016,” which enables private investments in the life sciences industry. In accordance with the notice, the government of China plans to make improvements to the country’s health care system and promote innovation in the pharmaceutical science and technology sectors. The government will facilitate these improvements in numerous ways, including optimizing policies for private medical organizations; unifying the nation’s health insurance system for rural and urban citizens, while encouraging commercial insurance firms to handle services; implementing centralized pharmaceutical purchasing in public hospitals, and expanding coverage on price negotiations and reducing coverage of prices for patented/exclusively produced drugs; and cancelling the “drug price addition regime” in public hospitals.

Source: Lexology