How did China become a global leader in life sciences?
An NBER working paper by Barwick, Xia and Xia (2026) provides the answer: In 2010, China accounted for less than 8% of global clinical trials; by 2020, it had surpassed the US in annual registered clinical trial volume…We provide strong evidence that China’s rise was primarily driven by the National Reimbursement Drug List (NRDL) reform,…