China Targets Universal Healthcare

As Plastics Today points out, China’s current healthcare system is two-tiered, with adequate (and often world class) health care available in urban areas but not always rural ones. But that’s about to change (in the midterm at least) with the recently announced government initiative to provide universal access to essential healthcare for all of China by 2020. The initial intent is to spend $124 billion between 2010 and 2011 to lay a solid foundation for this. What industries will benefit in the short run? Obviously, the manufacture of medical devices.

China’s government has a plan to champion domestic, high-tech medical manufacturers and reduce its reliance on imported brands. Currently, it is home to an estimated 12,500 device manufacturers making everything from bandages to CT scanners. Numerous multi-national device manufacturers have a presence in China primarily to access this growing domestic market , typically in the form of joint ventures or technology licensing. But that leads to an increased need for legal professionals savvy in both these completely different legal systems.

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One Response to “China Targets Universal Healthcare”

  1. There is still a need for western medical devices. For those looking into how to enter that market see our blog or visit our website at http://www.cgitus.com

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