China accelerates the pace of medical opening-up to the outside world
According to the website of The Straits Times on December 17th, Pengrui Group, a Singaporean real estate and healthcare company, has become the first foreign company to obtain permission from Chinese authorities to wholly own and operate a tertiary comprehensive hospital in China.
Previously, Beijing announced the expansion and opening up of the medical industry, which is subject to strict regulation and has insufficient resources, in order to improve the professional technology and service level of healthcare.
As part of its development of a comprehensive medical center, Pengruili Group has built a tertiary comprehensive hospital in Xiqing District, Tianjin, with a cost of 1 billion yuan and 500 beds.
This hospital is called Pengruili Comprehensive Hospital (Tianjin Pengruili Hospital), which encourages doctors to use shared medical facilities and services, including operating rooms, diagnostic imaging equipment, and clinical laboratories.
Tianjin Pengruili Hospital has its own medical team, providing comprehensive medical services in multiple disciplines including orthopedics, ophthalmology, otolaryngology, cardiology, oncology, and more.
The Chinese government requires that at least half of the employees in foreign-funded hospitals be Chinese, and also prohibits foreign-funded hospitals from engaging in genetic research, organ transplantation and assisted reproductive diagnosis and treatment.
Over the past 20 years, China has allowed foreign companies to jointly invest in hospitals with Chinese partners. The National Health Commission of China stated that there are currently over 60 Sino foreign joint venture medical institutions in the country.
Peng Ruili Group's Executive Chairman and CEO, Pan Xiyuan, stated that allowing the establishment of wholly foreign-owned hospitals is a "very strong signal that the Chinese government has adopted an open policy in attracting foreign investment".
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