Ritter Group Interested In Chinese Healthcare
The high cost and poor availability of health services have been among the loudest complaints of the Chinese.
- (1888PressRelease) May 07, 2011 - China's central government wants to encourage private investment to meet the country's increasing demand for healthcare. Preferential treatment will be given to private equity investments participating in restructuring government hospitals.
The high cost and poor availability of health services have been among the loudest complaints of the Chinese. In response to the global economic crisis, the Chinese government implemented a stimulus plan that required domestic banks to aggressively increase their loan portfolios. The result was a significant expansion in new lending: growing from four trillion RMB in 2008 to more than nine and a half trillion in 2009.
Development in the health care industry is expected to come from several sources including the aging of the Chinese population, increasing government subsidies and initiatives meant to improve health care nationwide, and the continued reliance on OTC medications as cheap substitutes for expensive or unavailable healthcare normally done in clinics. The resulting expansion is expected to grow the industry from 995 billion RMB in 2010 to 1.8 trillion in 2015 for a growth of 81%.
Premier Wen Jiabao promised to "support the use of non-government capital to run medical and healthcare institutions." This was seen as a signal for creating a more open medical market.
ARC China reports that according to the new policies, China will deepen the opening-up of medical institutions and turn the overseas-invested medical sector from the "limited" category into a category that allows foreign investment.
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