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100% Taiwan-owned hospital inaugurated in Shanghai

THE first wholly Taiwan-funded hospital on the mainland opened in Shanghai today. It is the first Taiwan-owned hospital to benefit from the Economic Cooperation Framework Agreement (ECFA) signed by mainland and Taiwanese authorities in 2010.

Shanghai Landseed International Hospital was built with 150 million yuan (US$23.81 million) from Taipei-based Landseed International Medical Group. It will mainly serve people from Taiwan, foreigners and local Chinese who demand better health services, the hospital said.

Previously, the mainland government only allows foreign companies to set up joint venture hospitals.

After the signing of ECFA, Taiwanese investors are allowed to set up wholly-owned hospitals in Shanghai and in cities of Fujian, Jiangsu, Guangdong and Hainan provinces. A similar pact known as Closer Economic Partnership Arrangement or CEPA, signed by mainland, Hong Kong and Macau authorities allows Hong Kong and Macau investors to set up wholly owned hospitals in Shanghai, Chongqing and the provinces of Fujian, Guangdong and Hainan.

The Landseed Group has run the joint-venture Shanghai Chenxin Hospital since 2002.


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