China opens up medical sector, manufacturing to foreign ownership in growth push
Overseas investors can run hospitals in major cities while pared down ‘negative list’ lifts curbs on foreign access to manufacturing sector
A joint circular on Sunday from the Ministry of Commerce, National Health Commission and the National Medical Products Administration said foreign investors would be allowed to run hospitals in the cities of Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou and Shenzhen, as well as in the southern island province of Hainan.
However, they will not be allowed to acquire public hospitals or run businesses relating to traditional Chinese medicine, according to the circular. The detailed requirements and procedures will be released later, it added.
The biotechnology sector will also be further opened up to foreign investment in major free trade zones of Beijing, Shanghai, and the southern provinces of Guangdong province and Hainan.
Effective immediately, foreign-funded firms will be allowed to research and adapt human stem cell and gene diagnosis technology, and offer related treatment services. They can also apply for market registration and mass production licenses that would apply nationwide.
The move from Beijing comes less than two months after the top Communist Party leadership at their key policymaking third plenum pledged to further open up the market.
