Cancer is one of the leading causes of death in China. Each year, over two million deaths from the disease occur in the country. As China continues opening up its pharmaceutical market, there is now a way for patients to buy cheaper cutting-edge drugs from overseas. Sun Tianyuan has the report.

Another major step in China's opening-up. On May 1st, China lifted tariffs on all imported common drugs, including those critical for cancer treatment. The removal of a three-to-six percent tariff and other policies will reduce the price of cancer drugs by up to 20 percent.

ZHANG JIANPING CHINESE ACADEMY OF INT'L TRADE & ECONOMIC COOPERATION "There is huge demand for imported drugs, especially cancer medicine. By lowering tariffs, the prices go down. Therefore, Chinese citizens are the direct beneficiaries. And on the other hand, foreign drug companies can also expect a promising market-share and revenue."

In China, ten thousand patients are diagnosed with cancer every day. That's about seven confirmed cases every minute. Beijing's latest policies on cutting tariffs could save millions of lives. However, it will take time to be fully implemented. The Food and Drug Administration said it has also given the green light to further simplifying the examination and approval procedures.

JIAO HONG, DEPUTY CHIEF CHINA FOOD AND DRUG ADMINISTRATION "We have sped up the examination of new drugs for rare diseases, as well as those most needed in clinics. These include anti-AIDS and anti-tumor drugs. In this way, these new drugs are expected to enter the Chinese market one or two years quicker."

Foreign pharmaceutical manufacturers said they welcome the changes.

DAVE PRESTON, CHAIRMAN & CEO BOEHRINGER INGELHEIM GREATER CHINA MARKET "From a pharmaceutical manufacturer's point of view it's very clear that we are very delighted. This will aid us to further lower the prices of the drugs. Whatever the cut is, we will pass on the full cuts to the patients."

Favorable policies on imported drugs are a win-win for both Chinese patients and overseas manufacturers. But with all these new drugs flooding into the Chinese market, how will companies at home be affected?

HANG JIANPING CHINESE ACADEMY OF INT'L TRADE & ECONOMIC COOPERATION "Actually this could lead to healthy competition. I believe many Chinese medicine companies will be ready to go all-out in research and development, as well as putting more investment in it. They will also work hard to obtain their own intellectual property and establish brands. In the long term, it is beneficial to China's home-developed drugs and their global influence."

The elimination of tariffs is only the first step. There are other measures in the works. And to save more lives and improve people's wellbeing, the Chinese government is set to further open up its medical market, for the benefit of both its people and the world. Sun Tianyuan, CGTN.