Renmin Chinese Law Review
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Renmin Chinese Law Review

Selected Papers of The Jurist (法学家), Volume 6

Edited by Jichun Shi

Renmin Chinese Law Review, Volume 6 is the sixth work in a series of annual volumes on contemporary Chinese law which bring together the work of well-known scholars from China, offering an insight into current legal research in China.
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Chapter 6: The market effects and strategy review of advertising governance: data analysis of the Chinese pharmaceutical industry

Yang Biao

Abstract

In the past two decades, the goal of the Chinese advertising management system has been to crack down on false and illegal advertisements. Data analysis of the Chinese pharmaceutical market shows that a high-pressure type of advertising management has resulted in serious inefficiency in the pharmaceutical industry and has brought about a series of negative effects, such as high prices, low-quality products, and a lack of innovation and competition, etc. The three major factors restricting the effect of Chinese advertising governance at present are unbalanced advertising legislation, a monopolistic pharmaceutical market, and arbitrary operation of government power. With the existing constraints, it is necessary to improve the information efficiency and management of the Chinese market by correcting the mistakes in the goals and direction of the past, transferring the focus of advertising management to encouraging pharmaceutical enterprises to invest more in advertising, and ensuring the authenticity of advertising information through market returns by raising the reputation of the market.

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