For­eign in­vestors can own pri­vate hos­pi­tals

China Daily (Canada) - - NEWSCAPSULE -

China will al­low for­eign in­vestors to wholly own pri­vate hos­pi­tals in a pilot pro­gram in seven cities and prov­inces, as Bei­jing looks to take the pres­sure off its state-run sys­tem.

In mak­ing the an­nounce­ment, the Min­istry of Com­merce did not in­clude any re­quire­ments for a min­i­mum level of in­vest­ment.

China’s health­care spend­ing is set to reach $1 tril­lion by 2020, ac­cord­ing to global man­age­ment con­sult­ing firm McKin­sey & Co.

Bei­jing has been slowly open­ing the door to over­seas money, pre­vi­ously al­low­ing over­seas in­vestors to own 70 per­cent in hos­pi­tal joint ven­tures. Full own­er­ship had been al­lowed in Hong Kong, Ma­cao and Tai­wan.

There were 11,300 pri­vate hos­pi­tals in the Chi­nese main­land last year, com­pared with just 3,200 in 2005, ac­cord­ing to a Deutsche Bank re­port in June.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.