Health Industry: Pilot free trade zones help promote health industry
Updated 11:20, 31-Aug-2019
China is fast-becoming one of world's oldest societies. Thus, quality healthcare services are now more important than ever, and the nation is taking steps to introduce more opening up measures to improve the comprehensive health sector. CGTN reporter Ning Hong has more.
It's perfect for a country with so many residents over 60.
The city of Qinhuangdao in northeastern China's Hebei Province now enjoys better rehabilitation services.
NING HONG HEBEI PROVINCE "This is one of the best rehabilitation centers in northeastern China. It is relatively new for Chinese people. However, the great potential of China's health market is attracting more foreign investors."
The GRS Center provides comprehensive rehabilitation,nursing and elderly care services, as well as alternative and creative health care that's still hard to find in China.
DING LIWEI, EXECUTIVE DIRECTOR QINGHUANGDAO TAISHENG GRS INTL. REHAB CENTER "The health and elderly care industry just started in recent years in China, and many policy bottlenecks have been broken. The threshold for foreign medical institutions to enter China has been lowered, and the approval process is also shorter. It has very good prospects."
Aside from elderly care, the pharmaceutical industry and medical service providers are also gaining more favor from the capital market.
ZHENG WEI, PARTNER NORTHERN LIGHT VENTURE CAPITAL "The capital market favors three major areas: first, innovative technologies with certain technical barriers. Second, new healthcare organizations that enhance user experience and efficiency, and that have the potential for large scale industrialization. Third, platforms that combine internet and AI with the health industry, and have a large amount of data in hand."
Among the latest pilot free trade zones now in China, multiple ones are putting the pharmaceutical industry and medicine trades in the spotlight.
HUI LUSHENG, FOUNDER HUIMIN FOUNDATION "China has clearly put forward a healthy China strategy, carrying out life-cycle health services for its people. We are also in line with the World Health Organization, recognizing that the purposes of 21st century medicine, and our medical reform are to promote the shift from treatment to disease prevention."
According to the China Health Industry Development Report, with the continued strengthening of purchasing power of the elder population in China, total consumption by the elderly population is expected to reach 18 trillion yuan, or nearly three trillion US dollars by 2030. Ning Hong, CGTN,Hebei Province.