Twenty-three chemical drugs, three biologics and one traditional Chinese medicine are among the latest approvals granted by the China FDA, which is continuing on a hiring spree to increase its number of reviewers.

Last July, when the China Food and Drug Administration's commissioner Bi Jingquan gave a speech during a ceremony at Peking University's Pharmaceutical Engineering Management class, no one realized that it marked the start of a new era of drug regulation in the country.

China continues to roll out volume-based procurement for medical devices and pharma products and companies should plan their strategies accordingly, advises EY Parthenon’s Hua Su.