BEIJING/SHANGHAI: China will ease curbs on foreign investment in joint-venture hospitals, the government said on Wednesday, as it deepens a sweeping overhaul of its healthcare system aimed at cutting costs and sprucing up overloaded public services.
China is an appealing market for pharmaceutical firms and medical-equipment makers, with spending in the industry expected to nearly triple to US$1tril by 2020 from US$357bil in 2011, according to consulting firm McKinsey.In a healthcare reform plan for 2014 published on its website, China's cabinet, the State Council, said it aimed to relax limits on foreign investment in hospitals on the mainland.