On December 26th, 2017, the ‘Notice on Enforcing the Three-year Action Plan for Strengthening Core Competitiveness in Manufacturing Industry (2018-2020) and Implementation Plan for Industrialization of Key Technologies in Key Fields’ was issued by China’s General Office of National Development and the Reform Commission, which mentions the key technologies of high-end medical devices and pharmaceuticals.
The industrialized implementation plan “(hereinafter referred to as the “Program”) clearly stated that it should focus on supporting the development of five major categories of medical devices to fill the gaps in the field of domestic high-end medical devices and narrow the gap within the international advanced-level.
The Program is clearly focused on the health of China’s construction requirements and the direction of medical device technology. It focuses on the use of large, widely used, high-tech, high-end medical equipment to encourage mastery of the industrialization of innovative products, to promote the transformation of scientific and technological achievements, to fill the domestic gap, to promote the upgrade of a number of key medical equipment devices; and to improve quality performance, improve product stability and reliability; and play a key role in leading large enterprises to cultivate well-known domestic brands.
The Program mentioned, is focusing on supporting these five major categories of medical device development.
The goal is to have more than 10 domestic innovative medical devices fill the domestic gap; more than 10 domestic high-end medical device brands achieve upgrades, with quality performance significantly improved, and sales in the top three markets of similar products; to cultivate leading medical equipment enterprises, to achieve sales revenues over 20 Billion by medical device companies; to achieve more than 10 goals.
The Program will promote the combination of research and development and be used to encourage in-depth cooperation among research, production and research institutes, speed up the innovation of pharmaceuticals and medical devices according to the changes in disease spectrum and the public health needs, promote the industrialization of major first-phase pharmaceuticals, promote supply-side reform and enhance high-end pharmaceuticals and medical devices supply capacity, product quality to the international advanced level.
The Program will encourage enterprises to use financial leasing, commercial quality insurance, etc. to expand independent innovation in the product market.
We believe China presents a great and strategic opportunity for overseas device companies in these categories to collaborate with selected local partners in China and help the most populous country to reach these strategic goals while retaining a strong market share for themselves.