China targets $1.31 trillion for health services

Beijing: China has set a target of increasing the gross value of its health service sector to over $1.31 trillion by 2020, according to a circular released Monday.

More measures will be taken to boost this sector, which will improve people's well-being and shore up growth, said the circular issued by the State Council.

The health service industry covers medical, health, insurance, and other supporting sectors related to pharmaceuticals, medical equipment, healthcare facilities and healthcare food, reports Xinhua.

New measures to boost private capital in the sector will include relaxing market admittance requirements for investment from non-governmental sources, and giving equal treatment to non-profit medical institutions.

The government will also simplify approval procedures for setting-up rehabilitation centres, hospitals for children and elderly patients, and nursing homes, according to the circular.

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