China in High Risk Regulatory Phase, According to CFDA Commissioner
In a recent interview with the press, China Food and Drug Administration (CFDA) Commissioner Zhang Yong noted that the country has entered a development phase for regulated industry that is marked by a high incidence of safety risks.
He attributes this current phase to the country's rapid economic development, which has also led to the rapid growth of local regulated industry. Based on international experience as a reference point, China's regulated industry is still burdened by imperfect self-regulation and the need for better recognition of the importance of product safety and quality.
In his opinion, there is a close relationship between product safety and quality and a country's social and economic development, and the public is now demanding that from industry.