,China

China's healthcare spending tipped to grow 12.6% to $926.8b in 2020

The government is expected to account for the majority of the spending.

The total healthcare expenditure in China is projected to rise 12.6% to $926.8b (CNY6.44t) in 2020 as the government ramps up spending in the sector amidst the COVID-19 pandemic, according to a Fitch Solutions report.

The government has earmarked an additional $1.44b (CNY9.95b) in funds for public health services and coronavirus epidemic prevention and control. According to the National Health Commission, the funds will be used mainly to prevent and control the spread of pneumonia caused by the virus.

With the expansionary public healthcare funds, expenditure is tipped to grow 12.2% in 2020. Despite growing healthcare privatisation and weak GDP growth forecast, the government is expected to account for the majority of healthcare spending.

Already, funds have been allocated towards improvements in healthcare access for patients diagnosed with the disease, the report noted.

For instance, two hospitals, particularly Huoshen Shan and Leishenshan, were built in Wuhan with a capacity of 1,000 and 1,600 beds, respectively, for treating coronavirus patients. Some public venues were also converted into temporary hospitals.

Beyond this, the government is also expected to continue pursuing its national healthcare objectives, which includes addressing the country's rising chronic disease burden, as well as reforming the delivery of healthcare as per the Healthy China 2030 Plan.

Some key healthcare drivers include the expansion of health insurance cover for the rural population, large-scale development of hospitals and facilities, private sector participation in the healthcare system and support for online medical services.

Join Healthcare Asia Magazine community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The loss will not have any material impact on the company.
Around 66 hotels have submitted to offer their rooms for hotel isolation.
He has been acting as group CEO since September 2021.
Bidding for these projects may commence in the first half of 2022.
Cardholders can now seek treatment from units where they did not register.
The system will be implemented this year.
The new facility will provide care for Indonesians who get treatment overseas.
The system was the only one of its kind in the country.
Healthcare Asia will be back on 3 January 2022. 
The additional patents aim to address supply issues.
Evusheld is a long-acting antibody candidate for COVID-19 treatment.
Despite NCDs accounting for 41 million deaths annually, they are still healthcare's 'blind spot', expert says.
The gala was held in celebration of World AIDS Day 2021.
It won in the International Human-Machine Competition on Diabetes Management.
The new facility is the first of its kind in Singapore.