China Healthcare Reform: the “Two Invoice System” Go back »
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Time2017-08-29 | 09:00 - 11:00
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Venue:Xi'an, 3rd Floor, Kempinski Hotel
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Address:
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Fee:Members: 250 RMB |
Non Members: 500 RMB
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The “two invoice system” is one of numerous recent government actions taken as part of a deepening commitment to reforming China’s healthcare sector. The “two invoice system” reform represents a government push to reduce corruption and artificially high prices in the pharma and medical devices industry by consolidating China’s highly fragmented distribution networks.
The policy introduces a ‘two invoice system’, meaning that during the distribution process from drug manufacturer to hospital; only two tax invoices may be issued. The new system is expected to; push smaller distributers out of the supply chain, bring manufactures into closer contact with regional and local markets, and to create the need for manufacturers to upscale their sales efforts.
The European Chamber is delighted to welcome Yvonne Wu, Lead Partner, China Life Sciences and Healthcare, Deloitte, and Bill Ye, Partner, King & Wood Mallesons to discuss the impact of this purchasing reform on multinational pharmaceutical companies and other related industries. In addition to outlining how the new process will work in practice, this seminar will highlight the measures European companies need to be taking to ensure they are ready to comply with this major new policy update.
This policy has already been piloted across several provinces and is due to be rolled out nationally by 2018. It is set to fundamentally change the way manufacturers, distributors, sales, and compliance teams in the pharma industry operate from both a business and tax perspective.
Agenda:
08:30 – 09:00 Registration and welcome coffee
09:00 – 09:10 Welcome remarks by European Chamber representative
09:10 – 09:40 Presentation by Yvonne Wu, Lead Partner, China Life Sciences and Healthcare, Deloitte
09:40 – 10:10 Presentation by Bill Ye, Partner, King & Wood Mallesons
10:10 – 11:00 Panel Discussion and Q&A
- Yvonne Wu, Lead Partner, China Life Sciences & Healthcare, Deloitte
- Bill Ye, Partner, King & Wood Mallesons
- David (Da Ying) Shen, Government Affairs & Health Policy Manager of Liaison Office Greater China Beijing Chapter, Bayer
11:00 End of Event
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Speakers
Ms. Yvonne Wu

Ms. Yvonne Wu
Yvonne Wu is the leading partner of Deloitte China Life Sciences and Healthcare (LSHC) industry, and a partner of Deloitte Risk Advisory (RA) department. She joined Deloitte in 1996 and has over 21 years’ experiences in risk management services. Yvonne’s expertise covers risk assessment and solutions, internal audit, internal control, and Contract Risk and Compliance (CRC) services. Yvonne serves many multinational LSHC companies, as well as leading Chinese LSHC companies. Her cross-dimensional experiences together with her rich experiences of business practice in China enable her to provide value added and integrated solutions to her clients. In her role of Deloitte China’s LSHC industry leader, she worked closely with partners across all function and developed a solid industry service team with 600 dedicated Deloitte professionals from all functions of full service breadth and capacity. She is also strongly allied with key stakeholders including government sectors, company executives, industry associations and investors.
Mr. Bill Ye

Mr. Bill Ye
Bill's areas of practice include tax advisory and dispute resolution, transfer pricing, and cross-border M&A tax services.
With more than 17 years’ experience, Bill primarily helps clients to design and implement comprehensive business solutions and deal with controversial tax issues including but not limited to communication and negotiation for tax audit, transfer pricing audit, advance pricing arrangement, tax legal business related to private wealth management,etc.
Bill has extensive experience in tax dispute resolution, cross-border M&A, design and implementation of employee equity incentive plans, establishment of companies' listing structure, day-to-day legal advice, etc. He has handled a large number of tax lawsuits and arbitration cases on behalf of clients, and regularly represented them in tax disputes before tax authorities, and acted as a member of think tanks for tax authorities in their disputes with taxpayers.
His unique background in law and accounting enabled him to help clients in the manufacturing, wholesale and retail, finance, real estate, and TMT industries design and implement comprehensive business and tax solutions. With solid professional training and years of experience, Bill is highly praised by his clients, not only for his legal services on a variety of tax legal issues to enterprises and institutions, but also for his in-depth research and cutting-edge innovative solutions and advisory services regarding emerging areas of fiscal and taxation laws and regulations.
Bill has been awarded as a second band tax lawyer in 2017 Asia Pacific Chambers and as a recognized tax lawyer in 2016 Asia Pacific Chambers.
In 2016 and 2017, Bill was ranked as a leading lawyer in Tax (PRC) by Legal 500.
Work experience
Prior to joining in King & Wood Mallesons in 2014, Bill had worked at Deloitte Shanghai as a tax partner focusing on tax controversies and transfer pricing. He also led the national tax technical center in the East China region. He worked in the Atlanta office, the U.S. for two years on the international tax and transfer pricing team, assisting multinational companies with business solutions.
Bill graduated from Xiamen University with a degree in international law. Bill has the professional qualification of CICPA (Certified Public Accountants) in China and the PRC Certified Tax Agent, and is a holder of the PRC Legal Professional Qualification Certificate.
Bill is the director of the financial and Tax Law Research Association of the China Law Association and the director of the finance and Tax Law Research Association of the Shanghai Municipal Law Society. He acts as a practicing tutor for many taxation master programs in universities, including Shanghai University of Finance and Economics, Shanghai University of International Business and Economics and East China University of Political Science and Law.
Bill's working languages are English and Chinese.
Mr. David (Da Ying) Sheng

Mr. David (Da Ying) Sheng
Mr. David Sheng graduated from Fudan University and holds a Master degree in Public Health. He’d worked for Center for Disease Control and Prevention (CDC)since 2000-2012, and served in Maternal and Child Health Hospital (MCH) in Shanghai since 2012-2016.
He used to work as an attending doctor at CDC and MCH, and his major task which was related to the project management and data analysis.
David Sheng has joined in Bayer above one year. During this, he has participated lots of public government affair works, like visited Ministry of Foreign Affairs, Ministry of Commerce,Ministry of Science and Technology, etc. policy analysis works and issue management works.