Want to Know China’s Future? Look Back at Policy Changes of the Past Year

The year 2007 proved to be a turbulent one for the Chinese medical market. Nearly every sector of the market experienced changes as result of new regulations, healthcare policy initiatives, national health insurance programs, government-mandated pricing controls and emphasis on healthcare cost reduction. The inevitable consequences, therefore, have included restructuring and reform in healthcare industries along with re-alignment of corporate strategies for the supply and demand sides of the markets. Change may be scary at times, but it can bring with it good things; in fact, some of the recent changes in the market and potential of the Chinese already have stimulated renewed interest from the investment communities. In the coming years, we may see even more investments into the healthcare arena—but first, let’s look back at the past one more time and take a glimpse at the future.

Chang-Hong Whitney is president of Whitney Consulting Ltd. in Massachusetts. With an MBA from Babson College (Wellesley, MA) and undergraduate degrees in electronic engineering and international business, she has been consulting for western companies on doing business in China since 1994, focusing on the medical device market. Her services include China regulatory affairs, market research, sourcing and logistics programs and China business strategies. She can be reached at [email protected].