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China's Fast-Growing Medical Industry Opens to Foreign Hospitals

Going to the doctor in China is often a very unpleasant experience. Beyond whatever ailment one may be dealing with, a medical visit usually entails painfully long waits in overcrowded, sometimes dangerous hospitals. China’s authorities have been trying to fix its beleaguered medical institutions. The latest move: welcoming more foreign investment.

China will allow wholly foreign-owned hospitals to operate in seven cities and provinces, including Beijing, Tianjin, Shanghai, Jiangsu, Guangdong, Hainan, and Fujian, the Ministry of Commerce announced August 27.  The decision was jointly made with the National Health and Family Planning Commission in late July, but not publicized until yesterday. Previously foreign stakes in hospitals were not allowed to exceed 70 percent, the English language China Daily reported today.