| Since 1949, the Chinese medical and pharmaceutical industries have gone from small to large, from feeble to strong, and from underdeveloped to relatively advanced. The developmental journey has been challenging, but our medical and pharmaceutical industries have made significant contributions towards the health and welfare of Chinese people.With the increasing globalization of world economy, membership in the World Trade Organization (WTO) is our only choice. China's WTO membership will increase the quality of our country's medical and pharmaceutical industry as a whole. It will increase exports by Chinese medical and pharmaceutical companies. Furthermore, it will attract foreign investment in our healthcare industry. Finally, it will provide Chinese medicine an opportunity to enter international markets. However, despite the great opportunities, China's WTO membership will also expose us to many potential challenges.This thesis will focus on four ways China's WTO membership will have a huge impact on our country's medical and pharmaceutical industries.1. The reduction of customs taxes2. The weakening and eventual elimination of non-customs taxes3. The protection of intellectual property4. A free market for distribution of medicinesThis thesis will propose adjusting industry structures, product imitation and innovation, modernization of Chinese medicine, and reform of medical and pharmaceutical distribution channels. This thesis will discuss Chinese medical and pharmaceutical industry strategy with regard to WTO membership. It will also make macro-level recommendations to the Chinese government. It strives to speed up increase the pace of development, and face world challenges. Only by continuously reform, strengthening ourselves can we compete with global medical and pharmaceutical corporations in multiple fields. Such planning, whether strategic or tactical, will bring unprecedented change to China's medical and pharmaceutical market-place.
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