Healthcare and Life Sciences Talking Points 22-01-2016

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Healthcare a lucrative emerging market

Australian healthcare operators are scrambling to take advantage of a lucrative emerging market as China opens up the sector to foreign investment. Stephen MacMahon, principal director of Austcham member The George Institute, identifies the opportunities available in the Chinese healthcare market. With a growing rate of chronic disease, China requires the expertise of foreign healthcare service providers to redesign their system to meet the demand. However, with competition from Korea and Singapore, who also have existing free trade agreements with China, Australian companies will have to be innovative to compete. Click here for link.

Chinese health indicators increase

Chinese health indication levels have increased with Chinese residents now enjoying the same level of health as medium and high income countries. With maternal and infant mortality falling and a dramatic improvement in health insurance coverage, the National Health and Family Planning committee have declared that China has achieved the United Nations Millennium Development Goals ahead of schedule. Click here for link.

Key healthcare policies for the new year

Austcham member King & Wood Mallesons have summarised the key healthcare policies moving into the 2016. They include: public hospital reform, promotion of foreign investment in the healthcare sector, removing the review requirement for health insurance institution approval, combining healthcare services with elderly care services and the updating of the foreign investment catalogue. Click here for link.

Lab animal welfare overhaul considered

China is formulating new rules in line with the standards of developed nations, according to Sun Deming, chairman of the Welfare and Ethics Committee of the Chinese Association for Laboratory Animal Sciences. Summary. The welfare of laboratory animals have been in the public spotlight after reports of abandonment in December. The supply of animals for science is a large market with supply reliant on a limited number of accredited suppliers and in house breeding programs. Click here for link.

 This brief summarises a range of publicly available news articles in both Chinese and English and AustCham takes no responsibility for the accuracy of the information in these articles. In addition, the views and opinions reflected in these articles are not necessarily representative of AustCham. For more details on how to get involved in the AustCham Beijing Healthcare and Life Sciences Working Group, please contact Andrew Britz.