消费与医疗周报：中国医疗通胀情况跟踪

Group 1 - The report highlights that the medical inflation rate in China was 10.7% annually from 2011 to 2019, but dropped to an average of 3.5% from 2019 to 2022 due to the impact of the COVID-19 pandemic. In 2023, the medical inflation surged to 18.7% as medical services resumed normal operations [3][7][8] - The report indicates that the average cost per visit for outpatient services has been increasing at an annual rate of approximately 5-6% from 2016 to 2023, while the average cost per hospitalization has seen a decline starting in 2021 due to the implementation of DRG/DIP payment reforms [7][8] - The report predicts that medical inflation in China is likely to decrease to around 8% in 2024 and 2025, driven by various factors including the normalization of medical service usage and the introduction of social insurance policies [3][8] Group 2 - The report reviews the performance of the pharmaceutical sector from February 17 to February 21, noting that the medical services sector experienced a significant increase of 9.28%, while the Chinese medicine sector saw a decline of 2.97% [9][13] - The report emphasizes the importance of foreign investment in the medical and pharmaceutical sectors, highlighting a 98.7% year-on-year increase in foreign investment in medical instruments and a 68.4% increase in the pharmaceutical manufacturing sector in January 2025 [19][20] - The report discusses the Chinese government's efforts to enhance the innovation of domestic pharmaceutical companies and attract foreign investment, including the establishment of foreign-funded hospitals and the expansion of pilot programs in biotechnology [16][18]