First wholly Taiwan-funded hospital opens

By Cai Wenjun | June 27, 2012, Wednesday |

Online Edition

THE Chinese mainland's first wholly Taiwan-funded hospital opened in Shanghai yesterday.

It is the first solely-invested Taiwan hospital to receive the green light on the mainland after the Economic Cooperation Framework Agreement, or ECFA, was signed between the mainland and Taiwan authorities in 2010.

Established by the Taipei-based Landseed International Medical Group, the Shanghai Landseed International Hospital, with a 150 million yuan (US$23.81 million) investment, is mainly aimed at Taiwanese, expatriates living in Shanghai and locals with high-end health demands, hospital officials said.

Previously, the mainland government only allowed foreigners to set up joint venture hospitals.

The mainland authorities signed the ECFA with Taiwan to allow investors from the island to set up wholly-owned hospitals in Shanghai and Jiangsu, Fujian, Guangdong and Hainan provinces, while a similar agreement called Closer Economic Partnership Arrangement, or CEPA, signed between the mainland and Hong Kong and Macau allows those two territories to set up wholly-owned hospitals in Shanghai, Chongqing and the provinces of Fujian, Guangdong and Hainan.

The Landseed Group has run the Shanghai Chenxin Hospital, a joint-venture hospital, in Shanghai since 2002.

Officials of the newly-opened hospital, located in Xuhui District, said the mainland medical market is very huge and a big attraction for foreign investors.

In 2000, the medical expenses on the mainland amounted to 458.67 billion yuan. In 2009, the expenses grew to 1.61 trillion yuan, according to the Shanghai Landseed International Hospital.

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First wholly Taiwan-funded hospital opens

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