This report reviewed the economic situation of China’s pharmaceutical industry in 2019 when the pharmaceutical industry developed stably and healthily in general. The report analyzed the significances of the newly revised “Drug Administration Law”，discussed the impact of the update of the catalog of medicines covered by national medical insurance system and the centralized volume-based procurement of drugs in “4+7” regions on the development strategy of the pharmaceutical industry，and listed ten major tasks for the development of China’s pharmaceutical industry in 2020. The Tripartite Medical System Reform gradually gets deepened，the pharmaceutical industry is faced with structural adjustment，transformation and upgrading，and “innovation-quality + compliance” will become the main theme of the development of the pharmaceutical industry.