Group 1: Consumer Loan Subsidy Policy - The central government has introduced a subsidy policy for personal consumer loans and service industry loans, referred to as "national subsidy" in the consumer loan sector [2][3] - The subsidy rate is set at 1 percentage point for both personal consumer loans and service industry loans, aimed at reducing credit costs for residents and businesses [2][3] - The policy targets consumption in key areas such as home appliances, automobiles, education, and healthcare, with specific conditions for loans to service industry entities [2][3] Group 2: Economic Indicators - In July, the industrial added value increased by 5.7% year-on-year, while retail sales of consumer goods grew by 3.7%, both showing a decline compared to June [4] - Fixed asset investment from January to July rose by 1.6%, indicating a slowdown in growth compared to the first half of the year [4] - The National Bureau of Statistics highlighted external challenges such as trade protectionism and extreme weather affecting economic performance [4] Group 3: Social Financing and Monetary Supply - As of the end of July, the total social financing scale reached 431.26 trillion yuan, with a year-on-year growth of 9% [5] - The increase in bond financing has significantly contributed to the growth of social financing, with government bond net financing up by 4.88 trillion yuan year-on-year [5] - The M2 money supply grew by 8.8% year-on-year, while M1 increased by 5.6%, indicating improved liquidity and efficiency in the financial system [5][6] Group 4: Stock Market Performance - The Shanghai Composite Index broke through the 3700-point mark, reaching a high of 3704.77 points, marking a significant recovery in the A-share market [7] - The number of new stock accounts opened in July surged by 71% year-on-year, reflecting increased investor enthusiasm [7] - Analysts suggest that the upward momentum in the stock market is supported by clear policy backing and the influx of new capital [7] Group 5: Trade Relations - The U.S. and China have agreed to suspend the implementation of 24% tariffs for 90 days, while retaining 10% tariffs on certain goods [8] - This agreement follows a series of trade talks aimed at reducing tensions and enhancing cooperation between the two nations [8] - The ongoing discussions indicate a willingness to engage in dialogue to resolve trade issues, although challenges remain [8] Group 6: Healthcare Policy - The National Healthcare Security Administration has published a list of drugs that passed the preliminary review for inclusion in the national medical insurance and commercial insurance innovation drug directories [9] - A total of 534 drugs were approved for the basic medical insurance directory, while 121 drugs were approved for the commercial insurance innovation directory [9][10] - The introduction of the commercial insurance innovation drug directory aims to support high-value innovative drugs and facilitate their market entry [10] Group 7: Taxation Policy - The Ministry of Finance and the State Taxation Administration have released a draft for public consultation regarding the implementation of the Value-Added Tax Law, set to take effect on January 1, 2026 [11][12] - The draft aims to clarify regulations and enhance the operability of the tax system, although expectations for loan interest to be tax-deductible were not met [11][12] - The implementation of the VAT law is seen as a crucial step in establishing a comprehensive legal framework for taxation in China [12]

此次公示时间截至8月18日，国家医保局将根据公示期间收到的反馈意见，对有关药品信息进行复 核，确定最终通过形式审查的药品名单并向社会公布。 值得注意的是，今年目录调整中增设了商保创新药目录，与基本医保目录同步申报。商保创新药目 录申报信息共涉及药品通用名141个，经初步审核，121个药品通过形式审查。 据国家医保局有关负责人介绍，有些药品同时申报了基本医保目录和商保创新药目录，但因两者申 报条件不完全一致，所以会出现基本医保目录和商保创新药目录形式审查结果不一致的情况。 据介绍，有一些价格较为昂贵、明显超出基本医保保障范围的药品通过了基本医保目录初步形式审 查，仅表示该药品符合申报条件，获得了进入下一个环节的资格。这类药品最终能否进入基本医保目 录，还需要经严格评审程序，通过专家评审的独家药品谈判成功、非独家药品竞价成功才能最终纳入目 录。 新华社北京8月12日电（记者彭韵佳、徐鹏航）国家医保局12日对2025年国家医保药品目录初步形 式审查结果进行公示，534个药品通过形式审查。申报药品数量超过2024年。 医保药品目录调整分为企业申报、形式审查、专家评审、谈判竞价和价格协商等环节。其中，形式 审查是对申报 ...

Core Viewpoint - The National Healthcare Security Administration (NHSA) has announced ten typical cases of fraud and illegal activities in the pharmaceutical sector, highlighting the ongoing efforts to combat drug-related fraud through the use of drug traceability codes [1][2] Group 1: Fraud Cases - The ten typical cases involve activities such as the resale of medical insurance drugs and the swapping of drugs across various regions in China, including Inner Mongolia, Shandong, Chongqing, Sichuan, Guizhou, Henan, Ningxia, Zhejiang, Heilongjiang, and Fujian [1] - Specific cases include the resale of medical insurance drugs by community health service stations and pharmacies, with notable instances in Ulanqab, Dezhou, Dazhu, and other locations [1] Group 2: Role of Drug Traceability Codes - Drug traceability codes have played a crucial role in identifying fraudulent activities, with over 53 billion drug traceability codes collected nationwide [2] - An example includes the Ulanqab community health service station, where 72 drug traceability codes were found to have duplicate settlements, leading to an investigation that uncovered the resale of drugs by medical staff [2] Group 3: Impact on Insurance Funds - The fraudulent activities have resulted in significant losses to the medical insurance fund, with one case in Hangzhou causing a loss of approximately 439,854.73 yuan due to the illegal resale of drugs by insured individuals [2] - The NHSA emphasizes the importance of compliance with drug procurement and settlement processes to protect the integrity of the medical insurance system [2]

Group 1: Healthcare Insurance and Coverage - The national basic medical insurance coverage rate remains stable at around 95%, with an expected 1.327 billion people insured by 2024, representing a 1.6 times increase from 2020 [1][3] - Cumulative expenditure of the medical insurance fund during the 14th Five-Year Plan period reached 12.13 trillion yuan, with an annual growth rate of 9.1% [1] - The multi-tiered medical security system is being established, including basic medical insurance, serious illness insurance, and medical assistance [3] Group 2: Long-term Care Insurance - As of June 2025, 253 million people are expected to participate in maternity insurance, with cumulative expenditures of 438.3 billion yuan [3][4] - The long-term care insurance system aims to alleviate the financial burden of daily care for the elderly and disabled individuals [3][4] Group 3: Medical Fund Management and Regulation - The National Medical Insurance Administration is enhancing the regulation of medical insurance funds to combat fraud and misuse, with 335,000 medical institutions inspected in the first half of the year, recovering 16.13 billion yuan [7] - The transition from a "post-payment" to a "pre-payment" system is being implemented, promoting efficiency in medical institutions and reducing patient out-of-pocket expenses by approximately 5% year-on-year [6] Group 4: Drug Price Governance - The 11th batch of centralized drug procurement has been initiated, emphasizing principles such as maintaining clinical stability and ensuring quality [9] - Since 2018, 10 batches of drug procurement have been conducted at the national level, covering 435 types of drugs, which has helped lower drug costs and improve accessibility [9]

据新华社，国家发展改革委副主任周海兵7月9日在国新办举行的"高质量完成'十四五'规划"首场新闻发 布会上表示，"十四五"以来，402种药品新增进入国家医保药品目录，医保跨省结算更加便捷。高质 量"一老一小"服务体系加快构建，全国护理型养老床位占比提高到64.6%，进一步为失能失智老人照护 刚需兜底。 ...

Group 1 - The National Healthcare Security Administration (NHSA) has made significant progress in addressing issues related to the management of medical insurance funds, particularly in combating illegal activities such as the resale of "returned drugs" [1] - "Returned drugs" refer to pharmaceuticals that have exited the legitimate distribution channels and re-entered the market, often through illegal means, posing risks to public health and safety [1] - The NHSA has launched a drug traceability information query function on its platform, allowing pharmacies to identify "returned drugs" through scanning, thereby ensuring the legality of drug sources [1][2] Group 2 - As of now, the NHSA has collected a total of 39.885 billion drug traceability codes to assist in combating the "returned drug" issue [2] - The NHSA plans to enhance the regulatory application of drug traceability codes, focusing on building a big data regulatory model to combat illegal drug trading and other violations [2] - The NHSA has initiated a special action to combat the production and sale of counterfeit and inferior drugs, with the first phase of verification tasks completed and several cases of "returned drugs" being addressed [2]

Core Viewpoint - Guangxi has officially implemented a "no code, no settlement" policy for designated retail pharmacies under the medical insurance system, requiring pharmacies to scan traceability codes for medical insurance drug sales to ensure safety and prevent counterfeit drugs [1][2] Group 1: Implementation Details - All designated retail pharmacies in Guangxi must scan traceability codes and upload information to the medical insurance information platform for drug settlement [1] - The traceability code acts as an "electronic ID" for each drug, assigned from production to sales, allowing for quick identification of counterfeit or substandard drugs [1] - As of now, Guangxi has collected 940 million traceability codes covering 19,000 medical institutions [1] Group 2: Consumer Protection Measures - The "no code, no settlement" policy will not affect the purchasing process for insured individuals or the normal reimbursement of medical insurance [1] - For drugs that have not yet been assigned codes, they can be temporarily included in a "no code library" for real-time data collection and review [1] - Consumers can verify their purchase information through the National Medical Insurance Bureau's official app by scanning the traceability code [2] Group 3: Impact on Drug Safety and Fraud Prevention - The implementation of this policy is expected to effectively curb the influx of counterfeit and "returned" drugs into the market, enhancing public safety [2] - It will also utilize big data analysis to combat various fraudulent activities related to medical insurance funds, ensuring safer and more efficient use of these funds [2]

Core Viewpoint - Shaanxi province has implemented new regulations requiring all designated retail pharmacies to collect and upload drug traceability codes when selling medical insurance drugs, with non-compliance resulting in non-reimbursement by medical insurance [1][2] Group 1: Drug Traceability System - The drug traceability code serves as an "electronic ID" for pharmaceuticals, ensuring each drug has a unique sales record to prevent counterfeit or swapped drugs [1] - The traceability system currently covers 12 coordinated areas in Shaanxi, connecting nearly 23,000 designated medical institutions and over 15,000 retail pharmacies [1] Group 2: Payment and Compliance - The "code-based payment" system allows medical insurance departments to settle payments based on the traceability codes, enhancing both drug safety and the security of medical insurance funds [1] - Medical insurance will not reimburse costs for drugs that should have been traced but were not, although this does not affect the normal process of medical treatment and reimbursement for insured individuals [1] Group 3: Public Awareness and Reporting - The provincial medical insurance bureau encourages insured individuals to actively request pharmacies to scan codes and verify traceability information when purchasing drugs [2] - Consumers are advised to report any discrepancies found during the verification process, such as previously sold drugs, to the medical insurance department [2]