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
Chinese Foreign Minister Wang Yi and his Argentine counterpart, Pablo Quirno, on Friday pledged to solidify the comprehensive strategic partnership and deepen cooperation across multiple sectors.
During their meeting on the sidelines of the Munich Security Conference, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, recalled Chinese President Xi Jinping's meeting with Argentine President Javier Milei in 2024 and said China is ready to fully implement the consensus reached by the two heads of state to improve the well-being of the two peoples.
The two sides should remain committed to the right direction of bilateral relations, he said, calling for enhanced friendly exchanges at all levels and firm support for each other on issues concerning core interests.
He emphasized the resilience of bilateral ties between China and Argentina over the past 54 years since diplomatic relations were established, noting that the two countries have always respected each other and treated each other as equals, and the relationship has weathered international changes with remarkable vitality.
Noting that China and Argentina are economically complementary with a solid foundation for practical cooperation, Wang proposed deepening collaboration in economy and trade, technology, finance, and mining, and welcomed Argentina to utilize platforms such as the China International Import Expo and the Canton Fair to bring more quality products to the Chinese market.
He also expressed hope that Argentina would provide a fair, transparent, and non-discriminatory business environment for Chinese enterprises, and welcomed Argentine citizens to take advantage of the visa-free policy for trips to explore China.
"China's development and growth represent a reinforcement of peace and stability in the world," Wang said. "We never engage in geopolitical contests, nor do we ask other countries to take sides. China-Argentina cooperation is not targeted at any third party, nor should it be disrupted by any third-party factors."
For his part, Quirno said Argentina and China are each other's major trading partners and enjoy a comprehensive strategic partnership, stating that Argentina has benefited significantly from cooperation with China.
He also conveyed gratitude for China's valuable support on the sovereignty issue of the Malvinas Islands and for its assistance during Argentina's economic difficulties. Quirno reaffirmed Argentina's firm commitment to the one-China principle.
The Argentine foreign minister expressed hope for closer exchanges with China and deeper cooperation in trade, energy, mining, and finance. He welcomed Chinese enterprises to invest and operate in Argentina.
China, Argentina pledge mutual support on core interests, deeper economic cooperation
