New guidelines aim to lift healthcare industry
新方針進一步開放醫保領域

China is moving to free up the healthcare industry further.

The State Council issued new guidelines Monday, it includes initiatives to liberalize the pricing of private hospitals, and cut administrative costs, and encourage private investment in hospitals.

Meanwhile, the government will give tax credits for businesses and widen payment channels for medical insurance. The government is also offering financial aid and tax breaks for healthcare businesses, like health management and medical equipment. Analysts say the guidelines clarify the direction of the healthcare industry and help drive future economic growth.