China's medical imports increase 35.5 percent in first three quarters

Source:Globaltimes.cn Published: 2019/12/8 23:32:36

Photo: VCG


China's total imports of medicines and health products surged 35.5 percent in the first three quarters this year, driven by rising imports of Western medicine and biochemical medicines, according to a report by an industrial association. 

The first three quarters of medicines imports and health products reached $52.5 billion, according to the statistics from the China Customs. Western medicines account for $14.3 billion of imports, and around $9 billion from biochemical medicines imports. 

Behind the rise in medical imports is the relaxation of tariffs on foreign medicines. A total of 51 types of anticancer drugs and active pharmaceutical ingredients (API) were exempt from tariffs due to the tariff adjustment in the beginning of this year. 

The increase in API import reached 22.3 percent year-on-year, most prominently from Ireland, the US, Japan, Norway and India, according to data from the China Chamber of Commerce for Import and Export of Medicine and Health Products (CCCMHPIE).

Imports of vaccines also witnessed a sharp rise during the first three quarters, with an increase of 108.8 percent to almost $1.2 billion. The biggest sources of imported vaccines are Ireland, the US, France and Belgium. Imports of Irish vaccines rose 311.3 percent to $554 million, while imports of Belgian vaccines increased 1189.5 percent, the CCCMHPIE said. 



Posted in: INDUSTRIES

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