AsianFin -- Shanghai has unveiled a plan to permit wholly foreign-owned hospitals in key economic zones, biopharmaceutical hubs, and central districts with large expatriate populations, marking a significant step in China's healthcare reform.
The city is the first to act on a September announcement by the central government allowing wholly foreign-owned hospitals in nine designated locations, including Beijing. The move aims to attract foreign investment, boost confidence among overseas investors, and revitalize the world's second-largest economy amid sluggish growth.
Shanghai will focus on key areas such as the Lingang Special Area and the Hongqiao business district, the municipal government stated on its website Wednesday.
The initiative seeks to advance the opening up of China's healthcare sector, broaden the range of medical services available, and improve the overall business environment in the city.
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