China will lower the retail price ceiling on over 160 kinds of medication, by an average of 21 percent from March 28th. That's according to China's top economic planner and price regulator.

The National Development and Reform Commission says the price change mainly covers antibiotics and medicines used to improve circulation. The move is expected to save Chinese consumers nearly 10 billion yuan each year.

The Commission says the adjustment, while within its normal mandate of controlling drug prices, is also part of national healthcare reform. It's also promising to continue efforts to drop prices on other kinds of medicine.