TOP POLICY PRIORITY
As demographic pressures mount, China is increasingly looking outward for expertise and investment to upgrade its healthcare system.
Chinese officials have signalled that the country is prepared to further open up its healthcare sector to foreign investors, particularly in areas such as eldercare, rehabilitation and specialised medical services.
“Both policymakers and investors are taken aback by such an explosive growth of the Chinese demographics,” said Liu Baocheng, director of the Center for International Business Ethics at Beijing’s University of International Business and Economics.
“China now has a far (older) population than before. Therefore, it needs strategic adjustment to understand such a reality. From senior homes to the tomb. There is a large potential that needs to be further tapped.”
The issue is expected to be in focus as thousands of delegates gather in Beijing for the annual Two Sessions – known as “lianghui” in Chinese – that is set to take place next week, where top leaders outline policy priorities and economic targets for the year ahead.
Healthcare is among the key sectors foreign investors are watching closely, alongside telecommunications and education.
Despite its vast population, China’s per capita healthcare spending remains relatively modest. Last year, it reached about 2,500 yuan (US$365) per person.
By comparison, per capita health expenditure across OECD countries averaged nearly US$6,000 in 2024.
The gap highlights substantial headroom for growth and investment in China’s healthcare market.
As China confronts the realities of rapid aging, building a more robust palliative care system may prove to be one of the country’s most urgent healthcare priorities.
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