China's CPI up 0.5 percent in January

China's consumer price index (CPI), a main gauge of inflation, was up 0.5 percent year on year in January, the National Bureau of Statistics (NBS) said Sunday.

In urban areas, the CPI rose by 0.6 percent, while in rural regions, it increased by 0.3 percent. Food prices saw a rise of 0.4 percent, and non-food prices went up by 0.5 percent.

In the month, consumer goods prices edged up by 0.1 percent while service prices increased by 1.1 percent year on year, according to the NBS.

On a month-on-month basis, the CPI increased by 0.7 percent in January, with urban and rural areas experiencing growths of 0.8 and 0.5 percent respectively over the previous month.

Food prices rose by 1.3 percent, while non-food prices went up for 0.6 percent over December 2024. In the month, consumer goods prices increased by 0.6 percent while service prices went up by 0.9 percent over December 2024, according to the NBS.

China's CPI up 0.5 percent in January

China's CPI up 0.5 percent in January

China's CPI up 0.5 percent in January

China's CPI up 0.5 percent in January

China's CPI up 0.5 percent in January

China's National Medical Products Administration (NMPA) reviewed a record number of new drug registration applications in 2024, marking a year-on-year increase of 16.2 percent, with antineoplastic drugs accounting for the largest share, according to the administration.

In 2024, the NMPA evaluated a total of 18,259 drug registration applications, a figure that reflects the vitality of China's innovation in drug research and development.

"The record number of reviewed drug applications is a clear sign of China's rapidly growing biopharmaceutical industry. The approval of high-quality new drugs not only gives Chinese patients more and better treatment options, but also shows China's increasing role in the global pharmaceutical market, offering more Chinese solutions to patients around the world," said Yuan Lijia, a staff member at the Center for Drug Evaluation under the NMPA.

Notably, in 2024, applications for clinical trial and market approval of new anti-tumor drugs ranked first among all chemical drugs and biologics, accounting for even half of the total.

"In 2024, anti-tumor drugs made up the largest share of approved clinical trial applications, with over 41 percent being chemical drugs and more than 55 percent being biologics. Throughout the year, anti-tumor drugs also led in the number of innovative drugs approved, with both chemical drugs and biologics surpassing 36 percent," said Geng Ying, an official with the center.

In 2024, China approved the market entry of 48 innovative drugs and 65 innovative medical devices. Its number of drugs in development ranked second globally, and several domestically developed drugs gained approval for global markets.

China's new drug registration applications hit record high in 2024