Govt to end ceiling on medicine prices to keep costs in check

Chinese regulators will lift price ceilings on most medical drugs starting from June 1, with the intention of creating a more market-driven pricing system that will help keep medical costs in check, the National Development and Reform Commission announced on Tuesday.

The country's economic planner said the prices of most drugs, aside from anesthetics and grade-one psychiatric medications, whose prices will remain under government control, will not increase as a result of the caps being removed.

The State and the market will jointly establish a scientific pricing system, according to a statement from the NDRC, which also urged the strengthened supervision of medical costs and prices to ensure fair competition.