Chinese medicine firms learning lessons from the West

TIANJIN - Chinese medicine companies are using the Summer Davos meeting as an opportunity to understand the market mechanism in developed countries, said Hao Feifei, president of Tianjin Zhongxin Pharmaceutical Group Co Ltd.

"I have attended all the summer Davos meeting after it began to be held in China," Hao said. He said the event is not just a simple fair, but an event to "feel the pulse of the world's economy."

A major problem that often confounds Chinese medicine firms is the high product costs. Anlaysts aver that the pricing system is disadvantageous to patients as well as companies.