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Pharma Will Need To Embrace More Inward-Looking China

Policies To Affect Market Access?

 
• By Brian Yang

The world’s second-largest economy is fast moving away from reforms and open to a "dual circulation" model, focusing on domestic market consumption while reducing export-driven production. Executives and investors shared views at a conference on whether multinational pharma firms are still welcome in China and what opportunities may lie in the drastic policy shift.

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CHINA'S DUAL CIRCULATION POLICY CREATING MORE BARRIERS FOR FOREIGN PLAYERS, EXECUTIVES SAY • Source: Alamy

In China's Fourteenth Five-Year Plan for the 2020-25 period, President Xi Jinping outlined a new and bold economic policy move - moving away from a four-decade policy of fundamental reforms and opening to the idea of "dual circulation", comprising domestic consumption and international trade and investment.

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