Ames Gross China has gained economic strength despite the global recession of 2008-2010. As the w

Ames Gross

China has gained economic strength despite the global recession of 2008-2010. As the world’s second-largest economy behind the United States, China’s gross domestic product growth of 10.3 percent in 2010 was significantly stronger than Organisation for Economic Cooperation and Development (OECD) countries’ average of 3 percent. (Founded in 1961, OECD is an international economic organization based in Paris, France, that includes 34 countries and was created to stimulate economic progress and world trade. For more info, visit www.oecd.org.)

With a huge population of more than 1.3 billion people, a strong economy and growing consumer market, China is a prime destination for Western companies’ medical products.

China plans to have a basic healthcare insurance system for its entire population by 2020.However, the government needs to overcome current challenges of healthcare affordability and accessibility. For this reason, China unveiled new healthcare reform guidelines in 2009 that are being implemented through 2011.