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| Mme. Ma Xiuhong's portfolio covers the Department of Treaty and Law, Department of American and Oceanian Affairs, Department of Foreign Investment Administration, Investment Promotion Agency, China Association of Enterprises with Foreign Investment and China Council for International Investment Promotion. |
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| Speech of Vice Minister Ma Xiuhong at the Forum on China-Singapore Medical Management Cooperation |
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I am very glad to attend the China-Singapore Medical Management Cooperation Forum held during the 10th China International Fair for Investment &Trade (CIFIT). Jointly held by the public health authorities of the two countries, the Chinese Ministry of Commerce and the Ministry of Trade and Industry of Singapore, this Forum is the first try of the competent authorities of the two countries to co-sponsor such a large-scale and high-level conference. On behalf of MOFCOM, let me extend my welcome to all friends present here, followed by a briefing on the developments of foreign investment in the medical services in China.
1,China’s policies on foreign investment in the medical services.
The Regulations on the Running of Hospitals and Clinics For Foreigners and Overseas Chinese and the Practice of Medicine by Foreign-Nationality Doctors and the Regulations on the Establishment of Foreign-Invested Medical Institutions were successively promulgated by the Ministry of Public Health and the former Ministry of Foreign Trade and Economic Cooperation in 1989 and 1997, which provided a basis for the experimental efforts in attracting foreign investment in the area of public health and medical services. The Interim Measures for the Administration of Chinese-foreign Medical Equity Joint Ventures and Cooperative Joint Ventures promulgated by the two ministries in May 2005 further eased the restrictions on the market access conditions for foreign investment and the share holding ratio.
According to these Measures, foreign investors could establish medial institutions in the form of equity jointures or cooperative jointures so long as they satisfy one of the following conditions: they can provide international advanced managerial experience, pattern and service mode for running medical institutions, or they have internationally leading medical techniques and equipment, or they can supplement or improve the availability of medical services, techniques, fund and facilities of local medical institutions. These foreign-invested medical institutions shall have a total investment of over RMB20 million yuan, in which the Chinese party must have no less than 30% equity or shareholding right. The above thresholds can be lowered for establishing medical equity or cooperative joint ventures in the central and western regions of China.
2,China’s WTO commitments on the liberalization of medical services.
Taking into consideration the characteristics and operational rules of the public health and medial services sector as a part of social welfare, the Chinese government, when entering the WTO, explicitly demanded that foreign service suppliers can only establish medical institutions in the form of equity or cooperative joint ventures with Chinese parties, which are also subject to quantitative restrictions in line with China’s actual need. As this provision complies with the practices of most countries in the world, it is widely acknowledged by the WTO members.
3,The present general situation and features of foreign investment in the medical services in China.
By now, China has altogether approved 98 medical equity and cooperative joint ventures, with an actual investment of US$700 million, out of which 13 are Singaporean-invested medical institutions with a real input of US$90 million.
The foreign-invested medical institutions in China have the following features:
A, They account for a small proportion in China’s total medical services.
B, They mainly locate in the developed regions like Beijing, Shanghai and Guangdong.
C, Their clients are concentrated, which are mainly foreigners working or traveling in China, and a very small number of high-income Chinese people.
D, They are usually special clinics with small investment and good profit, which are badly needed in China, such as dental clinics, eye clinics, and cosmetic & plastic surgery clinics.
E, They boast flexible mechanism, high quality services and good business returns.
4, I wish the China-Singapore cooperation in the medical services sector success.
As we know, Singapore boasts advanced and developed medical services, medical service management in particular. There is still great potential to be tapped in the investment cooperation in the area of medical services between China and Singapore. I sincerely hope the Chinese and Singaporean medical experts can take full use of this opportunity to strengthen the cooperation in the area of medical services, especially in medical management. I also look forward to seeing more medical institutions from Singapore to invest in China.
(Source: Network Center of MOFCOM)
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