A National Push for Globalization: China’s “Belt and Road” Health Initiative
The Belt and Road Initiative Paves a New Path for China’s Healthcare Industry
In October 2015, the National Health and Family Planning Commission released the Three-Year Implementation Plan for Promotion and Cooperation of the “Belt and Road” Health Exchange (2015-2017), which emphasized “efforts to promote the globalization of Chinese drugs and medical devices via increased publicity and support for competitive medical enterprises wishing to establish plants abroad.” For Chinese enterprises that are committed to supporting the plan’s goal of “great health”, particularly within the medical device sector, an international “way to health” has indeed begun to take shape.
China registered a total market share of 8.479 USD billion with 64 “Belt and Road” countries in 2016, including a total export trade volume of 5.833 USD billion and an import trade volume of 2.646 USD billion, representing 69% and 31% of the total trade volume, respectively. Singapore (1.05 USD billion), India (835 USD million), and Malaysia (757 USD million) were China's top three trade partners.
China’s Export of Medical Device Products – a Foreseeable Trend
China has been boasting an average growth rate of 20% over the past decade; the medical device market is unquestionably one of its fastest growing market segments. In 2013, China surpassed Japan to become the second largest medical device market in the world. Per the United Nations COMTRADE international trade database, Chinese global medical apparatus exports (including optical, photo and technical categories) totaled nearly USD74 billion in 2015.
It has become a foreseeable trend that China exports its medical device products and technologies to countries along the “Belt and Road”. Diagnostic and therapeutic equipment, accessories and rehabilitation consumables – all supported by favorable policies of the Belt and Road Initiative, ranked as the top three China exports with “Belt and Road” countries in 2016.
“Belt and Road” Exhibition Zone Attracts International Buyers
As one of China’s leading health industry fairs, the China International Medical Equipment Fair (CMEF), concurrently held at this year’s edition of tHIS, designed a special “Belt and Road” Exhibition Zone.
At the exclusive invitation of CMEF, 28 enterprises - all pre-approved to produce innovative drugs and medical devices locally and globally, met to exchange ideas with fellow industry professionals, helping to further promote the transition from “Made in China” to “Created in China”. Most zone exhibitors regularly engage in export trade with countries along the “Belt and Road” and attracted international buyers with their cutting-edge medical device products and technologies, such as gene sequencing, intraocular lenses, gene detection and PET-CT.
tHIS 2018 will be held at the National Exhibition and Convention Center (Shanghai) from April 11 -14, where an increased number of enterprises that trade with “Belt and Road” countries will be showcasing their new products and technologies. International buyers are welcome to the exhibition!