Healthcare investors keeping an eye on ‘two sessions’ for clarity on drug pricing

South China Morning PostEN 1 min read 100% complete by Julie ZhangMarch 4, 2026 at 01:44 AM

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Healthcare investors are closely observing China's annual "two sessions" meetings in Beijing this week, seeking clarity on potential adjustments to drug pricing and the national drug payment system. The meetings, which began Wednesday, are expected to address challenges with a new insurance program for innovative treatments. While analysts anticipate limited immediate policy changes impacting the healthcare sector, potential fine-tuning of volume-based procurement and commercial insurance policies is possible. The National People’s Congress will review the draft outline for the 15th five-year plan (2026-2030), which supports innovative drug development and identifies biomanufacturing as a new engine for economic growth. Investors hope the meetings will provide insight into the government's approach to supporting the pharmaceutical industry.

Key Entities & Roles

Key Player Opposition Context

Nomura 60% Macquarie Capital 60% National People's Congress 70% Tony Ren 70% Zhang Jialin 70% Two Sessions ×380% Beijing ×280% China ×590%

Keywords

drug pricing 90% healthcare 80% two sessions 80% drug payment system 70% innovative treatments 60% biomanufacturing 50% financial investors 50% volume-based procurement 50% policy agenda 40%