China is experiencing an unusual combination of growth factors that leads to abundant opportunities in the healthcare market: burgeoning middle-class, advanced technology, and government support.

Over the last decade, China embarked on the biggest health system reform aiming to extend health services beyond the country’s prosperous urban centers. In August 2016, President Xi Jinping held its most important national meeting on health—the National Health Conference—in twenty years, demonstrating the government’s tremendous political support in health investment. Xi further made it clear that health is to be an explicit national priority by approving the Healthy China 2030. China’s health science and technology innovation already rank amongst the world best. With the application of technological advances and improvements to the health insurance system, China aims to ensure health equity by 2030.

The burgeoning middle class implies the demand for high-quality medical services and the strains on public health care system. According to an EY report on China’s health care, the market for private health insurance grew from 1.5 trillion RMB in 2014 to 2.4 trillion RMB in 2015. The number is expected to grow up to at least 5 trillion RMB by 2020. Furthermore, the government encourages private sector involvement by relaxing regulatory restrictions and providing tax incentives.

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Junse Lee

Junse lives in the future. She is interested in new rules and ethics technology will bring into people's lives.