Editorial | Foreign hospitals add to healthcare choice
Opening up the sector to overseas operators is good for the Chinese economy and will allow patients to pick what is best for their needs
As integration with the Greater Bay Area gathers momentum, so too will demand for a whole range of health services, from diagnostic to medical and surgical, to rehabilitation and management of chronic illness. The cost, including advances in medical technology and treatment, will weigh heavily on public finances.
To meet public expectations, governments cannot stint on it, but must strive for the best value for money. The central government has chosen a way forward that serves more than one objective. To expand healthcare, it will allow foreign interests to set up wholly owned hospitals in several major cities, including Shenzhen and Guangzhou. The move also advances Beijing’s goal of further opening up and maintaining stable growth following the pandemic slowdown.
According to the Ministry of Commerce, National Health Commission and the National Medical Products Administration, foreign investors also would be allowed to run hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou and Hainan.
The move resonates in Hong Kong, where access to mainland medical services is an issue for an increasing number of residents, including retirees, who have relocated or are considering moving house across the border. In that respect it promises to complement the specialised medical services offered by the Hong Kong University-Shenzhen Hospital.
This reform has been in the wind for some time. Were it not for the impact of Covid it would have happened earlier. The overriding idea is to open up more of the private sector to foreign business, which is a positive move for the economy. The opening up of the medical sector is important within the services industry to investors and could attract interest in Hong Kong and overseas.
