①The National Healthcare Security Administration encourages and guides regions with the necessary conditions to explore the establishment of a global innovative drug trading platform targeting Southeast Asia, Central Asia, and other countries; ②The 'Ningbo Central and Eastern Europe (Centralized Procurement) Trading Platform' is under preparation, with pharmaceutical and medical device export platforms in Tianjin, Xinjiang, Guangxi, and other areas ready to launch; ③Hengrui Pharma, Qilu Pharma, and Yifan Pharma believe that going global is the inevitable path for China's pharmaceuticals and medical devices, and official guidance will provide strong support for enterprises.
Cailian Press report on January 17 (reporters Wang Junxian and Lu Afeng): China’s pharmaceuticals and medical devices sector is being systematically accelerated to go global.
On-site of the symposium and exchange activity, photographed by a reporter from Caixin.
This morning, the National Healthcare Security Administration held a symposium and exchange activity in Beijing titled 'Supporting the ‘Going Out’ of Chinese Pharmaceuticals and Medical Devices through the Centralized Procurement Trading and Pricing Platform.' The event emphasized using medical insurance as a link, building an authoritative pricing system, creating regional trading platforms, and improving collaborative ecosystems to inject strong momentum into the internationalization of China’s pharmaceuticals and medical devices industry, ushering it into a new phase where policy guidance and market operations are deeply integrated.
From the perspective of relevant measures, the dual efforts of the price registration system and cross-border trading platforms are becoming key supports for breaking through barriers for pharmaceuticals and medical devices going global, enhancing the international competitiveness of Chinese products. Enterprises in the pharmaceuticals and medical devices sector are receiving a 'national-level' boost for their internationalization.
Authoritative anchor points for Chinese drug pricing are being rapidly established.
The rise of China’s pharmaceuticals and medical devices industry cannot be separated from a fair and transparent pricing system. In recent years, with continuous breakthroughs in innovative drugs and high-end medical devices, Chinese companies have gradually gone global, entering international markets. However, in the face of complex and ever-changing international markets, the construction of a pricing system has become a key factor for enterprises to break through international barriers and gain market access.
By 2025, the total value of overseas licensing transactions for China’s innovative drugs has reached $135.7 billion, with the number of transactions setting a new record high of 157. Meanwhile, in the first half of 2025, the total export value of China’s medical devices reached 179.33 billion yuan, a year-on-year increase of 8.55%. This achievement is closely related to the growing influence of China’s pharmaceuticals and medical devices industry in the global market.
However, how to establish a firm foothold in the global market and ensure that the pricing of Chinese pharmaceuticals and medical devices remains internationally competitive has become a significant task facing Chinese enterprises in this sector.
In December, the China Drug Price Registration System was officially launched in Beijing. This is the first time the National Healthcare Security Administration has established a price registration platform independent of provincial listing and medical insurance negotiation systems, adopting a model of 'one location accepts, nationwide sharing, global openness,' aiming to provide Chinese innovative drugs with a globally-oriented, authoritative, standardized, and transparent market price registration framework.
At this seminar, Li Kebin, the head of China's Pharmaceutical Registration System, introduced that China’s pharmaceutical and medical device industries are developing rapidly. An increasing number of countries are referencing the price of the country of origin or China’s prices. Currently, during the new drug market entry process, 42 countries worldwide require submission of the product’s country-of-origin price, five countries require submission of China’s price, and four countries, although not mandating submission, actually reference the country-of-origin price.
As China’s pharmaceutical and medical device industries step onto the international stage, the gradual improvement of the global pricing system will become one of the core competitive advantages for Chinese pharmaceutical and medical device enterprises.
Wang Xiaoning, Director of the Department of Medicine Pricing and Centralized Procurement at the National Healthcare Security Administration, stated at the event that in December last year, we initiated the establishment of a China Medicine Price Registration System. The purpose is to learn from international practices and establish a pricing anchor for Chinese medicines in the international market and imported drugs in the Chinese market. This system provides enterprises with authoritative, standardized, and transparent market price registration and inquiry services globally. This will benefit the construction of an international pricing system for innovative Chinese drugs and also attract more high-quality foreign new drugs into the Chinese market, striving to make China the most important launching site and price anchor point for global innovative drugs.
Wang Xiaoning further noted that promoting the globalization of China’s pharmaceutical and medical device industries is not only a corporate market behavior but also a systematic project. It requires the coordinated efforts of relevant departments, financial institutions, and other service systems to jointly build an ecosystem conducive to the internationalization of China’s pharmaceutical and medical device industries.
Cross-border trading platforms are being developed through multiple approaches.
The 'going global' of pharmaceuticals and medical devices is not just about individual companies expanding into international markets; it is a systematic project involving efficient allocation of the global supply chain, cross-border payments, and compliance issues. To address these challenges, the construction of cross-border trading platforms is undoubtedly crucial.
Wang Xiaoning noted during the seminar that the healthcare security department is promoting specialized and differentiated centralized procurement transactions and price 'platform' construction. Regions with the necessary conditions are encouraged to explore building global innovative medicine trading platforms targeting Southeast Asia, Central Asia, and other countries. This will facilitate the international expansion of China’s pharmaceuticals and medical devices. Local governments are guided to leverage their geographical and policy advantages to actively construct integrated online and offline (centralized procurement) trading platforms covering information display, transaction matching, procurement settlement, and logistics transportation. These platforms aim to provide convenience for countries to purchase high-quality yet affordable Chinese pharmaceutical products, allowing them to share in the benefits of China’s pharmaceutical industry development.
At the beginning of last year, the China-ASEAN Medicine Centralized Procurement Platform was officially launched. During the seminar, Lai Yongdong, Deputy Director of the Guangxi Healthcare Security Bureau, introduced the achievements of the platform. Since its launch, the platform has facilitated transactions exceeding 10 million yuan in pharmaceuticals and medical devices, including Chinese drugs such as Bailings Capsules and Irbesartan Tablets, and medical devices like Holmium Laser Treatment Machines that have been successfully exported to multiple Southeast Asian countries. The Guangxi Healthcare Security Bureau stated that the platform not only overcomes information barriers in cross-border pharmaceutical and medical device trade but also addresses some challenges related to international logistics, payments, and market access. 'Through the platform, enterprises can efficiently meet the needs of the Southeast Asian market, saving time and costs while enabling rapid deployment of pharmaceutical and medical device products.'
The successful operation of this platform not only resolves multiple obstacles in China’s pharmaceutical and medical device exports but also provides valuable experience for the international expansion of pharmaceuticals and medical devices from other regions. Local governments in Xinjiang, Tianjin, Ningbo, and other areas are also actively promoting the construction of similar cross-border trading platforms, aiming to expand the market share of China’s pharmaceuticals and medical devices in different regions.
Abudurexiti Tusong, Deputy Director of the Xinjiang Healthcare Security Bureau, provided detailed insights into the planning of the China (Xinjiang)-Central Asia 'Central Pharmacy' platform at the conference. Built on the 'Belt and Road' initiative, this platform aims to provide policy support and resource integration for China’s pharmaceuticals and medical devices entering the Central Asian market. Set to officially launch in 2026, the platform is expected to significantly enhance pharmaceutical and medical device supplies in the Central Asian market and increase the market penetration rate of Chinese products in the region.
The Tianjin Medical Insurance Bureau showcased the latest progress of China's International Medical Devices and Equipment Trading Platform, with particular emphasis on the platform’s global supply chain collaboration capabilities. Wu Gang, Director of the Tianjin Medical Insurance Bureau Office and Second-Class Inspector, noted that the platform will focus on promoting the global circulation of medical devices, addressing the differentiated needs of developed and developing countries. Through this platform, the efficient connection between global medical device companies and buyers will significantly advance the globalization strategies of Chinese medical device enterprises.
Zheng Jinda, Director and Party Secretary of the Ningbo Medical Insurance Bureau and First-Class Inspector, introduced the conceptual framework for the upcoming 'Ningbo Central and Eastern Europe (Centralized Procurement) Trading Platform.' Leveraging the advantages of the institutionalized 'China-Central and Eastern European Countries Expo Platform,' and building upon already fruitful achievements, the initiative aims to learn from other trade activities and gradually expand into the pharmaceutical sector. To date, the Central and Eastern Europe Expo has successfully hosted a series of 'Multinational Pharmaceutical Companies Dialogue with Zhejiang' events. This year, the 'Yong Trade Global' market expansion campaign will be vigorously implemented, organizing over 8,000 enterprises to participate in more than 100 key overseas exhibitions, with pharmaceutical exhibitions as a core component.
How can innovative pharmaceuticals and medical devices answer the 'mandatory question' of going global?
As globalization accelerates, an increasing number of Chinese pharmaceutical and medical device companies are speeding up their international expansion. The national medical insurance system initiated by the National Healthcare Security Administration, along with various cross-border trading platforms it has spearheaded, serve as a 'national-level' catalyst for these companies. Enterprises such as Yifan Pharmaceuticals (002019.SZ), Qilu Pharmaceuticals, Hengrui Pharma (600276.SH), and United Imaging Healthcare (688271.SH) provided in-depth analyses during this symposium regarding the experiences and challenges faced by China’s innovation power in global competition.
Wang Feng, Executive President of Yifan Pharmaceuticals, shared profound industry insights at the conference, pointing out that 'going global' has evolved from being an optional choice to becoming an essential path for the survival and upgrading of China’s innovative drugs. The challenge of going global does not lie in research and development but rather in coordinating global supply chains, restructuring management systems, and managing cross-border compliance.
Wang Feng admitted that during its globalization process, Yifan Pharmaceuticals had encountered delays in product launches due to poor supply chain management. Without early detection, this 'hidden project' could slow down the entire commercialization process and even lead to missed market opportunities. Therefore, companies must efficiently coordinate across different markets to ensure smooth global operations.
As an industry leader, Hengrui Pharma’s international footprint is experiencing explosive growth, expanding from individual markets to broader regions. A company representative explained that, based on deep engagement with the 'Belt and Road' strategy and developed markets like Europe, the US, and Japan, the company has achieved product listings in over 40 countries and is actively expanding into emerging markets such as Russia and India. By leveraging partnerships, Hengrui’s total cooperation value in recent years has approached $27 billion, including achieving a transaction volume of $16 billion through five outbound licensing deals in 2025 alone.
This breakthrough by individual enterprises is now receiving stronger ecosystem support with the entry of official platforms.
Zhang Hanchang, Vice President of Qilu Pharmaceutical Group, emphasized the benchmark role of the China-ASEAN Pharmaceutical Regional Centralized Procurement Platform, stating that the platform effectively dismantles information barriers in cross-border pharmaceutical and medical device trade, fostering deeper cooperation between Chinese pharmaceuticals and Southeast Asia. 'This platform provides Chinese pharmaceutical enterprises with a more efficient channel for market entry, which is particularly crucial given the current instability in global supply chains.'
