Prices of 82 Medicines Lowered by 14 Percent

In a move to reduce people's medical bills, China will lower the retail price ceiling of 82 kinds of pharmaceutical drugs by an average of 14 percent. The price adjustment came into effect on September 1, according to the National Development and Reform Commission (NDRC). The regulation enforces the second cut made this year, and aims to ease the financial burden for families by maintaining the production and supply of inexpensive drugs. Last March, the commission lowered the retail price ceiling of 162 kinds of medicines by an average of 21 percent, which was expected to save Chinese consumers nearly RMB 10 billion (US $1.55 billion).