Assignment 4: International Finance Mitigation
Internationally, China, as a traditionally conservative country in its impression, has been promoting trade policy reforms, reducing trade barriers and administrative interventions, rationalizing the government’s responsibilities in foreign trade management, and promoting trade policy reforms after joining the WTO in 2001. Government actions will be more open, fair and transparent, and promote an open economy. As the world’s largest exporter, China has also implemented many policies in recent years, greatly increasing its trade with other countries. In terms of policy, it is actually very convenient to do export trade in China.
As a company that exports traditional Chinese medicine, only in terms of the pharmaceutical industry, especially the export of raw materials for medicinal materials, China’s export of raw materials for many years has been ranked first in the world, and it is the country with the largest preparation production capacity and one of the main production bases for small and medium-sized medical devices. . In recent years, the endogenous motivation of Chinese pharmaceutical companies to participate in international division of labor and cooperation has become stronger, and the breadth and depth have been continuously expanded, playing an increasingly important role in the global pharmaceutical market.
I think there are still the following risks: In particular, the new crown epidemic will have a greater impact on international trade, industrial chain extension, supply chain stability, and investment cooperation. From the perspective of internal factors, China is not yet a member of the International Pharmaceutical Certification Cooperation Organization (PIC/S). There are large differences in the procedures and document submissions of domestic and foreign production and registration.
In this regard, I think the most critical step is to improve overseas registration and certification and lower the barriers to entry. The particularity of the pharmaceutical industry determines that product quality, registration and standard integration are the primary thresholds for internationalization. A good quality system and high-end market certification will lay a solid foundation for companies to enter the international market, and it is also a necessary prerequisite for entering the international market.