China faces many healthcare problems. Many people, such as experts Prof. William Hsiao and Li Ling, attribute these problems to the unregulated marketization of the country’s healthcare system. This paper argues that although the unregulated marketization of its healthcare system contributes to many of China’s healthcare problems, a lack of professionalism is also an important factor. Furthermore, it argues that the Chinese medical profession requires both regulation and professionalism. It focuses on the moral aspect of medical professionalism (i.e., medical professional ethics) by discussing the rule- and virtue-based approaches to ethics. Alasdair MacIntyre initially observed the differences between these two approaches in his book, After Virtue. This paper discusses how the two approaches can be used to flesh out rule- and virtue-based medical professional ethics. It argues that rule-based medical professional ethics encounter severe difficulties from which virtue-based medical professional ethics are immune, and that there is therefore an urgent need to research virtue-based medical professional ethics.