NEWS: China’s Healthcare Sectors Open to Foreign Investment
The Ministry of Commerce, the National Health Commission of People’s Republic of China, and the National Medical Products Administration issued a joint document on September 7, 2024. According to the document, China is scheduled to open up the healthcare sectors below to foreign investment.
Biotechnology
Starting from 2024 September 8, foreign-invested enterprises registered at the following areas are allowed to engage in human stem cell, gene diagnosis and treatment technology development and technology application for product registration, listing and production:
- China (Beijing) Pilot Free Trade Zone;
- China (Shanghai) Pilot Free Trade Zone;
- China (Guangdong) Pilot Free Trade Zone; and
- Hainan Free Trade Port.
All products that have been registered for listing and approved for production can be used nationwide. The foreign-invested enterprises to be engaged in the pilot program shall:
- comply with the relevant laws and administrative regulations .
- must meet the requirements of the regulations on human genetic resources management. This includes clinical trials of pharmaceutical products (including international multi-center clinical trials).
- must adhere to the registration and listing of pharmaceutical products, production of pharmaceutical products, and ethical review; and
- must fulfill the relevant management procedures of the governing authorities.
Wholly foreign-owned hospitals
Wholly foreign-owned hospitals are allowed to establish in the following targeted cities. These cities include Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and all islands of Hainan.
The aforementioned wholly foreign-owned hospitals shall exclude hospitals in Chinese medicine, unless such hospital is a result of mergers and acquisitions of public hospitals.
The specific conditions, requirements and procedures for the establishment of the mentioned wholly foreign-owned hospitals will be announced separately. Governmental officials are urged to increase the publicity of the policy, take the initiative to dock with willing foreign-invested enterprises and strengthen services.
If you’re ready to invest in the healthcare sectors in China, get in touch with us now.
Source: https://www.mofcom.gov.cn/zfxxgk/gkml/art/2024/art_b72a08b977c94ab79af54ff6297f9968.html