Total value of medical imports decreases

Domestic demand remains robust while prices drop due to intensified competition among pharmaceutical firms

The value of medical and healthcare products China imported last year decreased for the first time in "many years" to about $50.43 billion, down by 9.75 percent year-on-year, according to a report released by the China Chamber of Commerce for Import and Export of Medicine and Health Products.

Business insiders said the cause of the decrease is mainly the lower average price of imported medicine due to intensified competition among pharmaceutical companies, rather than changes in import volume.