International Trade of Pharmaceutical and Health Industries Along the “Belt and Road” Countries

Abstract

In recent years, the medical and health industry has become a new engine for global economic development. As a cluster of industries, the level of world's medical and health industry varies. Standards, as a comprehensive reflection and strategic resource of the competitiveness of enterprises, industries, regions, and even countries, have become an important experience and basic consensus for economic development at home and abroad. This article conducts research on the current status of standardization in the pharmaceutical and health industry both domestically and internationally. This study mainly analyzes the bilateral trade volume and industrial structure of pharmaceutical products between China and countries along the “Belt and Road” (BR), and empirically analyzes the influencing factors of pharmaceutical products trade between China and countries along the "Belt and Road" according to the trade situation. Using the explicit comparison index, the trade complementarity index, and the trade intensity index, select fifteen countries that are representative of the trade of pharmaceutical products in China and the regions along "the Belt and Road." Then, divide pharmaceutical products into traditional Chinese medicine and western medicine. Finally, analyze the problems and challenges that are associated with pharmaceutical products in China and sample countries. Through comparative analysis of organizational structure, standard system, and standard formulation and revision, combined with the practical experience of standardization in BR countries' pharmaceutical and health industry trade, measures and suggestions are proposed on how to accelerate the role of adjustment in pharmaceutical and health industry trade.