In 2020，facing the challenge of the COVID-19 epidemic，the domestic manufacturing industry as a whole was affected. As an important industry in the fight against the epidemic，the pharmaceutical industry assumed its responsibility in the face of huge challenges and made great contributions. This paper analyzes the economic operation and production of China’s pharmaceutical industry and its various sub-sectors in 2020；introduces the production capacity of domestic chemical drugs and the situation of innovative research and development；reviews the situation of China’s drug exports and the international drug market under the severe international situation；and finally，predicts the prospects for the development of the pharmaceutical industry and the “14th Five-Year Plan”.