We have been tracking news related to the liberalization of the elderly-care market in Guangdong for some time. Now, the provincial government has issued some guidelines that look promising for investors, although the emphasis is clearly on non-profit organizations first.
Shenzhen Capital Group, a state-owned venture capital firm, announcedlast week that the company has launched its debut healthcare fund to raise over RMB2 billion (US$291 million).
The target amount of the first round of fundraising is RMB800 million ($116 million). The debut healthcare fund – Shenzhen Hongtu Healthcare Private Equity Fund – has already secured capital commitments from state-owned Shenzhen City Guidance Fund Investment, PingAn Real Estate Investment, ICBC, Chinese private equity firm Before Capital, and Kunpeng Capital.
Fancy living in one of the nine Greater Bay Area cities, but worried about the costs of expatriate education and healthcare? Worry no more – if you are a Talent from one of the two SARs, that is.
Zhuhai’s Municipal Human Resources and Social Security Bureau has released a plan to give talented individuals (talents) from Hong Kong and Macau access to local education and healthcare. The plan aims at establishing all-rounded social insurance and public services for talents from the two SARs by next year. Moreover, it proposes to grant the same pension benefits as locals, and do away with the need for employment permits.
Other incentives offered to talents from Hong Kong and Macau are already well known: the Zhuhai government provides subsidies and invests in incubators. It would seem that the city is focused on attracting only the brightest, however: those with a post-graduate degree.
Foshan’s Chancheng district has officially launched a “blockchain based vaccine safety management platform”, the first of its kind in Guangdong. Once implemented, all 750,000 doses of vaccine in the district will be under “full supervision”, from production to cold chain transportation, warehousing, circulation, reservation, vaccination and post-injection follow-up.
According to the Foshan Health Bureau, the platform will strengthen supervision of healthcare practitioners while offering convenience to patients. With the blockchain technology, a tracking code will be given to each vaccine and each of its movements from the factory to the warehouse to the clinic will be duly recorded, monitored and shared in real-time, via mobile devices. Prospective patients will be able to make appointments and submit enquiries online.
China’s largest commercial property developer, Dalian Wanda, has won the auction of a 133,252 square meter land parcel in Guangzhou’s Huangpu district for RMB1.34 billion, on which it will build a major international-quality healthcare project.
The local government required the winning bidder to partner with a US News Top 20 medical group on the project.
Wanda’s acquisition of the site was part of its plan to venture into the healthcare sector. At the beginning of the year, the group’s chairman, Wang Jianlin, who was once China’s richest man before Beijing’s deleveraging campaign forced to Wanda to shed over US$9 billion worth of assets over the past year, said that Wanda would focus on building a “top hospital” . The project would combine medical and healthcare services as well as commercial facilities and medical training facilities.
Last September, Wanda signed an agreement with the University of Pittsburg Medical Center to build a general hospital and introduce its management and systems into China.