Rongqiao Group, a private conglomerate, plans to invest 1 billion pounds (8.7 billion yuan) to healthcare sector in the future, in bid to offer high-quality services to Chinese patience, company executive said.
The company's enthusiasm for the sector was shored up by the increase in demand for quality healthcare from China's growing middle class, favorable demographic trends, continuing urbanization.
Lin Kaijie, board director of Rongqiao, said one of the group's next priorities is to introduce advanced medical resources from the UK, and take the lead in building an international integrated hospital in Fuzhou, Fujian province.
The move, according to Lin, would fully advance the quality of medical services for local consumers, and help enhance the investment environment of local high-tech development zone.
"The company will focus on addressing the inconvenience of medical treatment for residents living in Nanyu, one of the populous towns. The upcoming hospital is expected to provide the public with high-quality and international medical services," Lin said in a recent interview.
China is among the world's most attractive markets, in terms of pharmaceuticals to medical products to consumer health. According to global research organization Research and Markets, China's healthcare market is forecast to exceed $1115 billion in 2020, compared with around $710 billion in 2016.
Rongqiao Group, started as a real estate developer in Fuzhou in 1989, has been ramping up investment to expand businesses in healthcare industry. It has, so far, built a relatively comprehensive chain in health industry, combining social capital and professional resources.
The new investment plan is part of the company's long-term commitment to benefit Chinese people's livelihood, according to the company.
In June, Rongqiao Group signed a memorandum of cooperation with Northumbria Healthcare NHS Foundation Trust, a UK-based health service provider.
According to the agreement, Rongqiao will develop a large-scale medical city in Chongqing, with the aim of building a world-class cancer specialist hospital which could offer comprehensive nursing care for local community.
Alan Richardson, chairman of Northumbria Healthcare NHS Foundation Trust, said the organization looks forward to cooperating with Rongqiao Group to jointly deepen the experience of NHS, and expand further in international markets.
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