China - October 10, 2024

China's plan to open-up medical sector set to attract more foreign investment

(Voice_over)

China is planning to allow wholly foreign-owned hospitals to operate in selected cities including Beijing, Shanghai, Guangzhou and Shenzhen.

Officials say the pilot program is intended to expand and open-up the country's medical sector to better meet the needs of its residents.

United Family Healthcare (UFH), one of China's first Sino-foreign joint venture hospitals, has welcomed the news.

With 10 hospitals and 26 clinics in cities across the country, UFH founder Roberta Lipson says the move will allow for flexibility and smoother investment decisions.

(Sound_bite)

Roberta Lipson, Founder, United Family Healthcare:

"We have big plans to continue investment, and these new regulations will allow us to be even more flexible and more speedy on our investment decisions."

(Voice_over)

Meanwhile, the new regulations also allow foreign-invested enterprises to develop and apply human stem cell and gene diagnosis and treatment technologies within designated free trade zones.

They can also apply for licenses to manufacture, market and sell those products nationwide.

Lipson said it's a boon for patients with rare diseases, because it increases access to cutting-edge drugs and therapies.

(Sound_bite)

Roberta Lipson, Founder, United Family Healthcare:

"For certain of these therapies, we had to send our patients to foreign countries to get access to. And now we believe, with the new policy, we'll be able to use those therapies for our patients here in China."

(Voice_over)

The joint statement was released in early September by the Ministry of Commerce, the National Health Commission, and the National Medical Products Administration.

[Restriction: No access Chinese mainland]