In today’s talking points: Australia’s New South Wales and China’s Guangdong province to boost healthcare cooperation; Chinese medicine company looks to enter ASX; Australian healthcare providers step into China’s aged care market.
Australia’s New South Wales and China’s Guangdong province to boost healthcare cooperation
Ties between Australia and China continue to further develop after the signing of a Memorandum of Understanding by NSW Health and the Guangdong Health and Family Planning Commission. NSW Premier Gladys Berejiklian stated that the agreement demonstrates the value placed on the sister-state relationship, with the deal looking to boost ties and innovation in the healthcare sector. With NSW exports to China exceeding 5.4 billion USD in 2016, it is hoped the MoU will further increase this figure.
Read more at: XINHUA NET
Chinese medicine company looks to enter ASX
Traditional Chinese medicine company Rong Yu looks set to enter the Australian market with a $20 million public offering on the ASX. Chinese medicine continues to be a growing market internationally, and is worth over $500 billion in China alone. Rong Yu offer a number of products which they say will be available over the counter or for doctors to prescribe. With revenue of over $71 million last financial year, the company plans to enter the Australian market following approval of their products by the Australian Therapeutic Goods Administration, which they hope will also help boost sales in China.
Read more at: STOCKHEAD
Australian healthcare providers step into China’s aged care market
More Australian aged care providers are moving into China, encouraged by the size and demographics of the ageing population and the growing middle class able to pay for aged care for their parents and their future selves. The Chinese aged care market could be worth approximately A$787 billion today and more than A$2.5 trillion by 2030, according to the China Aged Care Industry Report 2016-2020.
Read more at: Australian Ageing Agenda