by Wang Yushi and Han Wei for Caixin

“China’s medical exports fell 26.1% year-on-year in the first half of 2023, dragged down by weaker demand amid a sluggish global economic recovery and a high base for comparison.

In the first six months, China exported $52 billion worth of medicine and medical equipment, according to data compiled by the China Chamber of Commerce for Import and Export of Medicines and Health Products, a state-backed business group.

Exports of Western medicine fell 23.4% year-on-year in the period, while shipments of traditional Chinese medicine grew 3.6%, though their value accounted for less than 6% of total medical exports, the data shows. Shipments of medical equipment, a category that includes devices like pacemakers and supplies like surgical masks, plunged 31.5%…”

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