In a bid to improve international purchase, China announced on Sunday that it will allow the creation of utterly foreign-owned facilities in nine areas, including the capital, Beijing.
According to an official report, the walk is aimed at “introducing international investment to market the high-quality advancement of China’s medical-related areas, and much join the medical and health needs of the people”. The plan is intended to test the growth of international investment in the medical industry.
The new legislation allows the development of totally foreign-owned hospitals in many successful cities and provinces across eastern and southern China, including Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and Hainan. However, the record made it clear that foreign mergers and acquisitions of public hospitals are prohibited and that this coverage does not apply to institutions that specialize in traditional Chinese medicine. Expect soon to receive detailed instructions on the particular needs and procedures for setting up these facilities.
Also, the coverage will help foreign-invested companies to participate in the development and application of protein and plant mobile technologies for diagnosis and treatment in aircraft free-trade zones located in Beijing, Shanghai, Guangdong, and Hainan. This includes the registration, marketing, and nationwide sale of related products.
The ease of restrictions on foreign investment in these medical fields comes as China’s economy, which is the second-largest in the world, struggles to grow, including declining foreign business sentiment, which is perceived as a potential threat to growth.
