The Chinese Pharmaceutical System under the “New Normal”: Policy Environment and Prospect
HKUST IEMS Thought Leadership Brief No. 89
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As the world's second-largest pharmaceutical market, China has seen a rapid increase in drug expenditures, driven by an aging population and rising healthcare demands. In 2009, a landmark national healthcare reform vowed to achieve universal and affordable healthcare by centralizing pharmaceutical procurement, notably through the two-invoice and volume-based procurement systems. The ongoing regulatory reforms have given rise to a “new normal” in the pharmaceutical system, where cost containment has become a key policy priority. While these measures have improved drug affordability and accessibility, they have also raised concerns about the potential stifling of innovation and long-term growth in the industry.
About the Author
Dr. He Jingwei, Alex is an Associate Professor in the Division of Public Policy and Acting Director of the Institute for Public Policy at The Hong Kong University of Science and Technology (HKUST). He specializes in public policy analysis, health policy and governance, and social policy reforms, with a particular focus on East Asia. Dr. He has published extensively in leading international journals and publishing houses, including Public Administration Review, Policy Sciences, The China Quarterly, Health Policy & Planning, Social Science & Medicine, Governance, Journal of Contemporary China, Social Policy & Administration, Policy & Society, and Health Policy. He has been ranked by Stanford as the world's top 2% most cited scholars in the field of political science and public administration for two consecutive years (2022, 2023). In 2020, Dr. He's research impact case was among the only two research impact cases unanimously rated ‘outstanding’ (four star) by the international expert panel in Hong Kong’s official scheme assessing the research performance and achievement of public universities. Dr. He has received various external as well as internal research grants totaling HK$ 5 million, including seven major projects funded by the General Research Fund (GRF), Public Policy Research Funding Scheme (PPR), the Early Career Scheme (ECS), and the World Health Organization (APO). Dr. He reviews for top academic journals and advocates policy through articles and interviews with various regional and international media outlets.
Mengjie Long is a research assistant in the Division of Public Policy at The Hong Kong University of Science and Technology (HKUST). She holds a Master of Public Policy degree from HKUST and earned her bachelor’s degree in public administration from Renmin University of China.
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