Caixin
Apr 04, 2018 07:48 PM
POLITICS & LAW

China Cuts Taxes to Boost Generic Drug Industry

China will roll out a preferential tax rate for some generic drugmakers. Photo: VCG
China will roll out a preferential tax rate for some generic drugmakers. Photo: VCG

China’s government has announced policies to encourage the manufacturing of generic drugs that will include a reduction in corporate income tax of 40% for some producers and faster evaluation of new medicines.

The strategy (link in Chinese) is aimed at cutting health care costs, meeting public demand and building a “healthy China,” the State Council said in an announcement on the government’s website on Tuesday.

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