China to Allow Wholly Foreign-Owned Hospitals in Beijing, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and Hainan

Nov 29, 2024, 12:23 PM

China has announced a significant policy shift to allow the establishment of wholly foreign-owned hospitals in several major cities, including Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and the island province of Hainan. This initiative, reported by state news agency Xinhua, aims to enhance the country's healthcare sector by introducing international medical resources and services. The plan specifically excludes hospitals practicing traditional Chinese medicine and does not permit mergers and acquisitions of public hospitals. This move is part of a broader strategy to open up the healthcare market and improve medical service offerings for both foreign residents and Chinese citizens. In addition, China is also looking to relax market access in the digital sector and improve regulations on financial institutions' rate pricing.