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China plans medicine price checks following market reform

Updated: May 6,2015 7:46 AM     Xinhua

China’s top economic planner on May 5 asked price watchdogs to organize a six-month check on the medicine market following its decision to remove controls on most medicine prices.

The National Development and Reform Commission said the move is intended to detect any illegal practices disrupting market order, such as price fixing and artificial inflation of prices.

The commission also urged local authorities to create an online platform for better price monitoring.

China decided to lift price controls on most medicines from June 1. Only narcotics and some listed psychotropic drugs will continue to be controlled by the government.

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