Gaza's gross domestic product (GDP) has contracted by 86 percent year on year in the first three months of 2024 amid intensifying Israeli attacks, according to data released by Palestinian Central Bureau of Statistics (PCBS) on Thursday.
The PCBS statement shows that the GDP of Palestine in the first quarter of 2024 declined by 35 percent year on year, while that of the Gaza Strip sharply shrank by 86 percent due to ongoing Israeli attacks, indicating that the local economic system has collapsed.
The West Bank also saw a year-on-year contraction by 25 percent.
Palestine's GDP per capita was 491 U.S. dollars in the first three months of 2024, down 36 percent compared to the same period of last year, with that of the Gaza Strip decreased by 86 percent.
Gaza's GDP contracts 86 pct amid Israeli attacks
Gaza's GDP contracts 86 pct amid Israeli attacks
China's National Medical Products Administration (NMPA) reviewed a record number of new drug registration applications in 2024, marking a year-on-year increase of 16.2 percent, with antineoplastic drugs accounting for the largest share, according to the administration.
In 2024, the NMPA evaluated a total of 18,259 drug registration applications, a figure that reflects the vitality of China's innovation in drug research and development.
"The record number of reviewed drug applications is a clear sign of China's rapidly growing biopharmaceutical industry. The approval of high-quality new drugs not only gives Chinese patients more and better treatment options, but also shows China's increasing role in the global pharmaceutical market, offering more Chinese solutions to patients around the world," said Yuan Lijia, a staff member at the Center for Drug Evaluation under the NMPA.
Notably, in 2024, applications for clinical trial and market approval of new anti-tumor drugs ranked first among all chemical drugs and biologics, accounting for even half of the total.
"In 2024, anti-tumor drugs made up the largest share of approved clinical trial applications, with over 41 percent being chemical drugs and more than 55 percent being biologics. Throughout the year, anti-tumor drugs also led in the number of innovative drugs approved, with both chemical drugs and biologics surpassing 36 percent," said Geng Ying, an official with the center.
In 2024, China approved the market entry of 48 innovative drugs and 65 innovative medical devices. Its number of drugs in development ranked second globally, and several domestically developed drugs gained approval for global markets.
China's new drug registration applications hit record high in 2024
