OBJECTIVES: To accurately reflect actual price level of chemical drugs and changes, this study deeply explored influencing factors of chemical drug price, constructed chemical drug price index system and meanwhile sought methods to establish price index of a specific type of chemical drugs. METHODS:  Combination of qualitative and quantitative methods was used to explore establishment of chemical drug price index. Expert evaluation and field survey were used to determine classification of chemical drugs, representatives and representatives’ weights. Questionnaire was used to determine key data in selection of chemical drug representatives. Field survey was used for data collection. RESULTS:  On the basis of chemical drug classification, representatives were determined step by step. By collecting chemical drug price data in representative regions and manufacturers, quantitative calculation of weight was performed. Selection route of quality adjustment method and key quality collection method when representative changed in price index were investigated. Data collection protocol required to establish chemical drug price index was proposed. Feasibility to establish chemical drug price index system was explored and several main price indexes were proposed. CONCLUSIONS: First, this study proposed specific methods to establish chemical drug prices and solved the problem of selecting representative from various chemical drugs. Second, quality adjustment decision process was proposed and key quality adjustment methods were explored. Finally, as it is difficult for a single overall chemical drug price index to completely reflect the general view of chemical drug price level and changes in our country, this study proposed an index system including overall index, essential drug index and antibiotic index based on the need of reality.