🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

China eases restrictions on exports of some coronavirus equipment

Published 04/25/2020, 11:24 AM
Updated 04/25/2020, 11:25 AM

BEIJING (Reuters) - China is dropping a requirement that a number of key virus treatment products get regulatory approval before export, as long as they are approved in the importing countries, the commerce ministry said on Saturday.

China had been stipulating such approval since the end of March after several European countries complained that Chinese-made test kits were inaccurate, in effect hampering many firms' efforts to supply global efforts against the coronavirus pandemic.

The new ruling applies to products such as coronavirus tests, medical masks, protective suits, infrared thermometers and ventilators.

"Tonight's new rule is a revision to (the older rule)," said Zhang Shuwen, the CEO of Liming Bio-products, a biotech firm offering coronavirus tests targeting the overseas market. "It's wrong to have a one-size-fits-all policy..."

"Each country may have different criteria for medicines and medical devices. The priority is to meet the requirement in the countries where the product will be sold, instead of where the product is made," Zhang said.

The previous ban vexed medical device firms in the cities of Hangzhou and Shenzhen, who tried to seek help from local governments, Zhang added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.