Pharmacovigilance is the science and activity of discovering，evaluating，understanding and preventing adverse drug reactions or any other drug-related problems. After China joined ICH in 2017，Article 12 of the new “Drug Administration Law” clearly stipulates that China implements a pharmacovigilance system. However，data shows that only 10% of China’s 5000 pharmaceutical companies established pharmacovigilance related systems two years after China joined ICH. Pharmacovigilance involves MAH，operating companies，clinical trial institutions，regulatory agencies，medical institutions，industry associations，universities and scientific research institutions，patients，etc. It requires the participation of all sectors of the society. It is an “ecosystem” that depends on “social co-governance”. Therefore，the industry needs to continuously deepen the concept of pharmacovigilance and strengthen the implementation of the system.