China encourages health care investment from Hong Kong and Macao
Shanghai. June 8. INTERFAX-CHINA - China is encouraging health care providers from Hong Kong and Macao to enter the mainland market, the Ministry of Health (MoH) announced on June 8.
According to the MoH announcement, agreements were recently signed between 14 central government agencies and the governments of Hong Kong and Macao which aim to promote business cooperation between the special administrative regions and the mainland.
Health care providers from the two regions are now permitted to set up wholly-owned hospitals in Shanghai Municipality, Chongqing Municipality, Guangdong Province, Fujian Province and Hainan Province, according to the announcement. Involvement in joint venture (JV) hospitals on the mainland with a minimum total investment of RMB 10 million ($1.46 million) has been permitted since 2008.
The Guangdong Provincial Health Bureau will be responsible for approving projects proposed by companies from Hong Kong and Macao in Guangdong, and no minimum investment will be required, the announcement said. In addition, health care providers from Hong Kong and Macao are permitted to set up rehabilitation institutions in Guangdong.
According to the announcement, heath care professionals from Hong Kong and Macao are allowed to practice in mainland medical institutions for up to three years.