The covid-19 pandemic has accelerated digital transformation in all areas of society, and fast evolving informational technologies and biomedicine has reshaped the ecology of medical service. The direction to unleash the potential of new techs in China depends on how to accelerate the transformation of quality, efficiency, and motivations of medical service in the public hospitals dominated policy driven healthcare system. As a key component of healthcare, medical payment fundamentally affects interactions among hospitals, pharmaceutical equipment, enterprises, and medical insurance institutions, thus it is of vital importance to understand how DRG reform should be utilized to best empower the capabilities and efficiency of medical service. Meanwhile, China's drug regulatory reform since 2015 is set to release the enormous potentials for innovative medicine, which calls for massive insightful investment to fuel the high-quality growth of the industry. Highlighting two of the most significant reforms in China's healthcare above, we will bring together top scholars and industry elites from Yale and China to discuss the new trends and solutions for shaping the next-era healthcare.