"十四五"期间，我国医疗卫生与医疗保障事业获得了持续发展，人民群众的疾病医疗负担在不断减轻，医药产业呈现出良好的发展势头，"三医"（医疗、医 保、医药） 之间通过深化医保支付方式改革和推进"三医"联动监管等多种举措，亦显现出了日益向好的协同效应。中国社会保障学会会长郑功成表示，"十五五"时期将 是我国大健康保障体系建设的关键时期，迫切需要通过进一步全面深化改革来促使医疗、医保、医药制度得到全面优化，进而按照党的二十届四中全会的总 体部署和国家"十五五"规划来谋划新的推进方略与具体举措。 此次发布的《医疗保障蓝皮书（2025）》将主题聚焦到"促进医疗、医保、医药协同发展和综合治理"，系统总结分析了我国"三医"关系的发展历程、中央和 地方改革实践、创新药企的价值实现路径，创造性地提出了"各循其道、各守其规、各展其长、各尽其责、各得其所"理论，进一步厘清了"三医"协同的底层 逻辑与客观规律。社会科学文献出版社总编辑耿显家介绍，《医疗保障蓝皮书》已连续出版六年，始终立足于社会保障制度的理性建构与高质量发展，紧扣 医疗保障领域的时代议题，在学界与政策界积累了良好口碑与广泛影响，是对中国医疗保障事业持续发展的高质量动态观 ...

再创新高！日前公布的新版医保药品目录中，罕见病用药数量超过100种、覆盖病种超50种，为更多患者点亮希望。 2025年5月，我国首个获批用于朗格汉斯细胞组织细胞增生症的药物芦沃美替尼片上市，但每月高达约1.7万元的治疗费用，有能力承担的患者 寥寥无几。 11小时大手术、9次全麻手术、12次放疗……这是6岁的神经母细胞瘤患儿谦谦两年来的经历。 "神经母细胞瘤，虽然属于罕见病，但高发于5岁前的儿童。"中国抗癌协会小儿肿瘤专业委员会主任委员王焕民说，患病后复发率高，生存率 往往难超50%，被称为"儿童癌王"。 四年前，神经母细胞瘤用药达妥昔单抗β获批，可数百万元的单疗程费用，成为无数家庭难以跨越的鸿沟。 一位技术人员在创新药实验室内工作。 新华社发（邹欣 摄） "芦沃美替尼片被纳入新版国家医保药品目录，医保加速入场，将为患者抢出更多生存与康复的机会。"北京协和医院血液科主任李剑说。 芦沃美替尼片进医保，意义不止于此。除了可治疗朗格汉斯细胞组织细胞增生症，它还适用于丛状神经纤维瘤的Ⅰ型神经纤维瘤病儿童及青少 年患者。 此前，医保中已有丛状神经纤维瘤的Ⅰ型神经纤维瘤病用药司美替尼，但仅覆盖3岁及以上患儿，芦沃美替尼片则 ...

11小时大手术、9次全麻手术、12次放疗……这是6岁的神经母细胞瘤患儿谦谦两年来的经历。 再创新高！日前公布的新版医保药品目录中，罕见病用药数量超过100种、覆盖病种超50种，为更多患 者点亮希望。 2025年5月，我国首个获批用于朗格汉斯细胞组织细胞增生症的药物芦沃美替尼片上市，但每月高达约 1.7万元的治疗费用，有能力承担的患者寥寥无几。 "芦沃美替尼片被纳入新版国家医保药品目录，医保加速入场，将为患者抢出更多生存与康复的机 会。"北京协和医院血液科主任李剑说。 芦沃美替尼片进医保，意义不止于此。除了可治疗朗格汉斯细胞组织细胞增生症，它还适用于丛状神经 纤维瘤的Ⅰ型神经纤维瘤病儿童及青少年患者。 此前，医保中已有丛状神经纤维瘤的Ⅰ型神经纤维瘤病用药司美替尼，但仅覆盖3岁及以上患儿，芦沃 美替尼片则可用于2岁及以上患儿。 从3岁到2岁，看似微小的年龄突破，背后是医保对每个生命的守护。 目前，医保用药覆盖罕见病病种已超过50种，但相较于罕见病目录中207个病种，仍有缺口。这其中， 既因为有些罕见病未被攻克、无药可用，也因为有些罕见病药物价格高昂，基本医保无力承担。 "神经母细胞瘤，虽然属于罕见病，但高发于5岁 ...

Core Insights - During the "14th Five-Year Plan" period, Shandong's medical insurance benefits have steadily improved, with the hospitalization reimbursement ratio for grassroots medical institutions exceeding 85% [1][2] Group 1: Medical Insurance Reforms - The hospitalization reimbursement ratios for employee and resident medical insurance remain stable at approximately 80% and 70%, respectively [2][3] - A comprehensive outpatient coordination system has been established, increasing the reimbursement ratio for outpatient services at grassroots medical institutions to 65% [3] - The reimbursement ratio for outpatient medications for residents with hypertension and diabetes has been raised to 75% [3] Group 2: Support for Vulnerable Groups - The rescue ratio for major disease medical insurance and assistance for vulnerable groups, including low-income families, has been increased to over 70% [3] - Shandong has achieved nationwide coverage for long-term care insurance for employees and is steadily advancing long-term care insurance for residents [3] Group 3: Collaborative Development in Healthcare - Shandong has been actively promoting centralized procurement of drugs and medical consumables, with 890 types of drugs and 40 categories of high-value medical consumables procured over the past five years [4] - The province has implemented a payment reform based on disease diagnosis-related groups (DRG) and disease-specific values (DIP), achieving coverage rates of 97.21% for disease types and 89.76% for funds [4] Group 4: Optimization of Public Services - The province has maintained a stable insurance coverage rate of 95% for the resident population during the "14th Five-Year Plan" period [5] - The direct settlement rate for cross-province hospitalization has improved from less than 50% during the "13th Five-Year Plan" to 94.49% [5] - A total of 35,000 grassroots medical insurance workstations have been established, achieving full coverage of the five-tier medical insurance service system [5]

Core Viewpoint - Trump expressed support for providing direct funding to the public regarding healthcare issues [1] Group 1 - Trump discussed healthcare and indicated a preference for direct financial support to citizens [1]

Core Insights - The National Healthcare Security Administration (NHSA) has issued a notice to implement instant settlement reforms for medical insurance funds by the end of 2025, aiming for 80% of local medical insurance funds to be settled instantly by the end of 2026 [1][2] - The instant settlement policy is expected to significantly enhance the efficiency of medical insurance payments, potentially reducing the payment cycle from monthly to weekly or even daily, which is crucial for alleviating the cash flow pressure on medical institutions [2][3] - The overall operation of the medical insurance fund remains stable, with total income of 34,913.37 billion yuan and total expenditure of 29,764.03 billion yuan in 2024, indicating no systemic risks at the national level despite some regional pressures [3][4] Group 1: Policy Implications - The instant settlement reform is seen as a timely relief for medical institutions facing operational pressures, allowing for healthier and more sustainable cash flow [2][3] - The NHSA's initiative aims to transform the delayed nature of medical insurance reimbursements into an immediate process, enabling medical institutions to plan operations more effectively and invest in services with greater confidence [4][5] - The reform is not merely about speeding up payments but also about enhancing the governance model from passive payment to proactive empowerment, ensuring that every investment translates into tangible health outcomes [5][6] Group 2: Financial Context - The continuous growth of medical insurance fund expenditures is largely attributed to the genuine increase in service volume and reasonable health demands, rather than excessive medical practices or fund wastage [5][6] - Public medical institutions are increasingly reliant on government subsidies and medical service fees, with the stability and predictability of the settlement mechanism directly impacting their operations and staff confidence [4][5] - The need for refined internal management and operational efficiency in public medical institutions is highlighted, especially in the context of tight local finances and the challenges of meeting development needs [3][4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Jiangsu Hengrui Pharmaceuticals Co., Ltd. 江蘇恒瑞醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1276） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，江蘇恒瑞醫藥股份有限公司（「本公司」）在 上海證券交易所網站( www.sse.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 孫飄揚先生 中國上海 2025年8月20日 於本公告日期，董事會成員包括(i)執行董事孫飄揚先生、戴洪斌先生、馮佶女 士、張連山先生、江寧軍先生及孫杰平先生；(ii)非執行董事郭叢照女士；及(iii) 獨立非執行董事董家鴻先生、曾慶生先生、孫金雲先生及周紀恩先生。 江苏恒瑞医药股份有限公司 2025 年半年度报告 公司代码：600276 ...

Group 1: Healthcare System Development - The integration of medical imaging data through the "医保影像云索引" pilot program in Hubei province allows for seamless access to patient imaging results across different healthcare facilities, enhancing convenience for patients [1] - The "十四五" plan emphasizes the construction of a robust healthcare system, with a focus on improving public health and ensuring that healthcare services are accessible and efficient [1][2] - The establishment of a tiered medical service system aims to resolve the issue of insufficient medical resources at the grassroots level, promoting a model where serious illnesses are treated at provincial levels, general illnesses at city levels, and routine health issues at community levels [2] Group 2: Medical Insurance and Financial Support - The expansion of medical insurance coverage has significantly reduced out-of-pocket expenses for patients, with over 7,000 new mothers in Guangzhou spending less than 100 yuan after insurance reimbursement for childbirth [3] - The basic medical insurance network in China has become the largest globally, with over 99% coverage for low-income and impoverished populations, and reimbursement rates for inpatient expenses reaching 80% for employees and 70% for residents [3] - The 2024 National Medical Insurance Directory includes 3,159 types of drugs, expanding access to essential medications for various diseases, including cancer and rare diseases [3] Group 3: Public Health Infrastructure - The establishment of dedicated disease control supervisors in hospitals is part of a broader initiative to enhance public health oversight and response capabilities, with pilot programs implemented in 254 cities [4] - Increased financial support for basic public health services has led to a per capita subsidy standard of 99 yuan, contributing to improved health literacy among the population [4] - The percentage of residents with health literacy has risen from 17.06% in 2018 to 31.87% in 2024, indicating a growing societal emphasis on health and wellness [4]

Social Security & Healthcare - The document discusses the option of only paying for resident medical insurance instead of social security [1] - It highlights a shift towards mandatory social security contributions [3] - The author expresses concern for self-employed individuals who voluntarily pay for social security [3] - The author argues that most young people who pay for medical insurance rarely use it [3] Personal Finance Perspective - The author criticizes the perceived "word game" where individuals still pay out-of-pocket even with medical insurance [3]

Social Security & Healthcare Analysis - The analysis suggests that many young individuals who pay for medical insurance may not actually utilize it, implying a potential inefficiency in the system [1] - The analysis points out that the "self-paid" portion of medical expenses often comes from individual accounts rather than pooled funds, despite the perception of insurance coverage [2][3] - The analysis suggests that resident medical insurance offers a cost-effective option for major illnesses, especially hospitalization, despite procedural hurdles [5][6] - The analysis views commercial insurance as a gamble against insurance companies, advising against it for individuals with sufficient assets (e g, 1 million in emergency cash) due to potentially unfavorable terms [6] Pension & Public Fund Insights - The analysis highlights the significant disparity in pension benefits based on employment type (e g, civil servants, state-owned enterprises, private companies, freelancers), with civil servants receiving substantially higher pensions [7] - The analysis implies that individuals in less advantageous positions within the pension system should minimize contributions as a form of resistance [8] - The analysis suggests that housing provident fund (公积金) is a tangible benefit that should be considered as part of one's income [9] - The analysis notes a decreasing trend in companies willing to take risks to help employees avoid taxes, as the risks outweigh the benefits [9] - The analysis suggests that the value of residency permits (落户) and housing purchase qualifications (房票) is diminishing, making continuous social security contributions for these purposes less worthwhile [9]