Australia will have a very meaningful role to play in the healthcare sector in China, Australian experts said on Monday. HSBC Australia head of commercial banking James Hogan said there were three key markets Australian businesses were set to benefit from in China -- food, energy and healthcare.
"Our research at HSBC has found that 70 percent of Chinese mainland people say that health is their number one biggest concern," Hogan said. "China's demand for healthcare will certainly increase rapidly over the coming year, as healthcare reform comes a priority for China's government."
Hogan said there were opportunities across the healthcare space in China awaiting Australian investment. "Across the corporate base we are seeing real opportunities for private sector hospitals, as well as pharmaceutical opportunities and aged care," Hogan said.
Macquarie University health economy center director Dr Henry Cutler said any investment within China would have to be long term. "Obviously developing relationships with those in China to make sure that services delivered are culturally appropriate (is important)," Cutler said. "I don't think dumping in a model from Australia would work."
HSBC noted the recent China-Australia FTA provides Australian medical services and healthcare providers with favourable access to expand into or do business with China.
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