In recent years, China's comprehensive policies to attract foreign investment have been made, among which taptap点点 medical field and taptap点点 biomedical field are one of taptap点点 key areas. This article will briefly explain taptap点点 latest main policies of relaxing foreign investment access in taptap点点 medical field.

I.  Access rules for foreign investment were relaxed

 A negative list management system is implemented for foreign investment in China. taptap点点 negative list refers to taptap点点 special access management measures for foreign investment in specific areas.

 China has continuously relaxed access for foreign investment for taptap点点 past years. From 2017 to 2021, taptap点点 negative list for foreign investment in taptap点点 national and pilot free trade zones has been revised for five consecutive years. taptap点点 restrictions on these lists have been reduced from 93 and 122 to 31 and 27 respectively, and a series of major opening-up measures have been introduced in manufacturing, mining, agriculture and finance.

 With taptap点点 consent of taptap点点 CPC Central Committee and taptap点点 State Council, taptap点点 National Development and Reform Commission and taptap点点 Ministry of Commerce promulgated taptap点点 Decree No.23 on September 8,2024, publishing taptap点点 full text of taptap点点 Special Administrative Measures on Access to Foreign Investment (2024 Edition), which will come into force on November 1,2024. taptap点点 2024 edition of taptap点点 national foreign capital access negative list reduced taptap点点 restrictions from 31 to 29, deleting taptap点点 "publications printing must be controlled by China", and "banned investment in processing technology applications of steaming, frying, burning, and calcination in Traditional Chinese Medicine decoction pieces and manufacturing of Proprietary Chinese medicine confidential prescription products”.

Manufacturing is taptap点点 earliest field to open up in China. It is also taptap点点 field with taptap点点 most abundant market competition and taptap点点 closest global industrial division of labor and cooperation. taptap点点 abolition of restrictions on foreign investment in taptap点点 manufacturing sector, including bio-medical manufacturing, fully demonstrates China's positive willingness to expand international cooperation and its clear-cut attitude to support economic globalization.

II.  Expand trials to open up taptap点点 medical sector

In September 2024, a major breakthrough was made in China's opening-up policy in taptap点点 medical sector. taptap点点 Ministry of Commerce, National Health Commission and National Medical Products Administration issued taptap点点 Notice on Pilot Work of Expanding Opening up in taptap点点 Medical Field, which intends to allow taptap点点 establishment of wholly foreign-owned hospitals (Except for Traditional Chinese medicine, excluding taptap点点 acquisition of public hospitals) in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen and Hainan. Besides, foreign-invested enterprises are allowed to engage in taptap点点 development and application of human stem cells, genetic diagnosis and treatment technology for taptap点点 product registration and manufacturing in China (Beijing) Pilot Free Trade Zone, China (Shanghai) Pilot Free Trade Zone, China (Guangdong) Pilot Free Trade Zone and Hainan Free Trade Port.

taptap点点 establishment of a wholly foreign-owned hospital is not only taptap点点 release of a policy, but also an important step in taptap点点 diversification and internationalization of China's medical industry. China has taptap点点 advantage of a large market, which is highly attractive to foreign countries, while foreign parties can introduce taptap点点 whole system and concept, as well as cutting-edge technology and equipment into China, so as to provide diversified choices for Chinese patients, which may strengthen taptap点点 competition between medical resources and promote taptap点点 improvement of taptap点点 overall medical service level.

III. taptap点点 business environment for foreign enterprises has been improved

In August 2023, taptap点点 State Council issued taptap点点 Opinions on Further Optimizing taptap点点 Foreign Investment Environment and Increasing Efforts to Attract Foreign Investment (Guofa (2023) No. 11). On taptap点点 one hand, it guides more foreign investments in key areas such as pharmaceutical manufacturing, modern service industry, and high-tech, for example, encouraging pharmaceutical companies to build research and development centers in China, and to facilitate taptap点点 clinical and declaration of foreign listed products in China accelerating taptap点点 realization of taptap点点 "zero time difference" between listing of new innovative products globally and in China. On taptap点点 other hand, it also provides more opportunities for fair competition for foreign-invested enterprises to enter China, and this opinion proposes to protect taptap点点 national treatment of foreign-invested enterprises, ensure that foreign-invested enterprises participate in government procurement activities according to law, further clarify taptap点点 specific standards of "made in China", to redefine taptap点点 "domestic" standards in medical device bidding and procurement. In addition, this opinion proposes to study and innovate cooperative procurement methods, and support foreign-invested enterprises to innovate and develop global leading products in China through measures such as first purchase and order.

IV. conclusion

In order to achieve a higher level of opening-up, China's foreign investment policies and related systems have been being updated at a faster pace, such as taptap点点 recent series of measures to promote foreign investment in taptap点点 medical and health sector. These have put forward higher requirements for foreign investors to understand taptap点点 changes in relevant laws and policies. Foreign investors can further consult professional lawyers when they encounter specific problems to ensure taptap点点 smooth development of their investment and trade in China.