Sino-America Biomedical Companies Expand Operations

The demand in the medical equipment market in China has been increasing recently. To introduce advanced medical technology from America, Hunan Lugu International Medical Equipment Industrial Park is coming to the United States seeking investment. The first International Medical Investment and Cooperation Forum was held June 29 by the investment group and the Association of Sino-America biomedical experts.

The director of Changsha National High-tech Industry District, Luo Shehui points out that both the global and Chinese medical equipment market share the same characteristics: It is one of the most potentially lucrative investments and this trend is receiving increased attention.
Communication in science and culture between China and other countries has been growing and such communication between U.S and China will lead a brand new generation of medical cooperation.
In 2012, China’s total medical equipment imports as $12.472 billion, an increase of 14.56%. The United States, Germany, Japan and other developed countries are major markets of imports. According to the scale of imports, 9 out of ten of the countries ranking first 10 are developed countries, and the total imports of the first five took up 51%.

Luo Shehui then says, “The aging community in China ensures continuous development for manufacturing enterprises that provides, for instance, oxygen machines and blood glucose meters; the second is the medical reformation. The 12th five-year plan of the State Council has mentioned that by 2015, service from non-public medical institutions will be about 20% of total medical institutions. With the social background of amelioration of medicare, the increase of purchasing medical equipment of private enterprises will push the development of the whole industry; meanwhile, it’s definitely a great opportunity for overseas medical equipment enterprises.”

Song Guangzheng, president of Beijing Haiping High-tech Investment and Development (which is in charge of Lugu Medical Equipment Industry Park) says, “Lugu Medical Equipment Industry Park which located in Changsha National High-tech Industry District, is the center of high tech industry of Hunan province and Changsha, the showcase of modern industrialization and the model as an ecological new city. The Industry Park accommodates 15 enterprises from Fortune 500 such as Nokia, Dell and Honeywell and is called the Silicon Valley of Hunan province.

The output of industrial enterprises in the District takes up more than 40% of the total output in Changsha and the national creativity rank is the 6th. By 2010, the number of enterprises in the park approached 4,000. Among those, 492 were high-techs, which took up about a half of the province. There were 29 publicly traded companies that took up 40% of the province. The South Lugu Medical Equipment Industry Park plans for considerable expansion in the biomedical industry development.

The Association of Sino-America biomedical experts and professionals from medicine and business attended the meeting June 29. Other guests included: Wang Xiulan, the mayor of Walnut City; Huang Weigang, deputy mayor of Monterey Park. The director of Changsha National High-tech Industry District, Luo Shehui and Song Guangzheng, president of Beijing Haiping High-tech Investment and Development, delivered talks on the conditions of development of medical industry in China respectively.

After the meeting, Law Offices Of Jeffrey T. Bell
signed an agreement with Hunan Lugu International Medical Equipment Industrial Park, and visited famous American medical companies afterwards.

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