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New report identifies health and aged care industry opportunities in China

New report identifies health and aged care industry opportunities in China article image

A new report has been released outlining key opportunities for Australian business in China’s health and aged care industry.

The Austrade report, Health and Aged Care Industry in China: A Guide for Australian Business, outlines four areas where Australian capabilities in the health and aged care sector can match China’s needs.

These include the design and operation of health and aged care homes as well as providing skills, education and training to carers.

It also pinpoints ways in which digital technologies can be applied to develop internet health systems. Currently more than 150 million Chinese use e-health systems.

Australia’s expertise in complementary medicines and premium health foods can also play a role in helping China succeed in its new focus on healthy living.

Greater opportunities

In launching the new report, Trade Minister Steven Ciobo said the China-Australia Free Trade Agreement (ChAFTA) is providing greater opportunities for Australian health and aged care providers to do business in China.

Under ChAFTA Australian medical services providers are able to establish wholly-Australian owned aged care facilities in China with no geographical restrictions.

By 2020, China’s population is expected to reach 1.4 billion people, of which 248 million will be aged 60 or over.

In responding to this demographic shift, China has embarked on fundamental health and aged care reforms through its Healthy China 2020 strategy.

This strategy proposes a role for private enterprise and foreign capital in developing China’s health and aged care sector and also aims at a target of 10 million aged care workers by 2020.

The report can be found at: www.austrade.gov.au/health-and-aged-care-industry-in-china-report

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