The Chinese government intends to invest more time and money into its own medical manufacturing to take on global companies such as General Electric, Philips and Siemens, whom currently have a 70% share of China's medical manufacturing market. China implemented a plan called "Made in China 1975", which aims to upgrade Chinese industries to help it become a global manufacturing powerhouse. However, China faces many obstacles such as expensive equipment and a bad health care reputation, though specialists are hopeful for the industry's future in the long run.
The Chinese government intends to invest more time and money into its own medical manufacturing to take on global companies such as General Electric, Philips and Siemens, whom currently have a 70% share of China's medical manufacturing market. China implemented a plan called "Made in China 2025", which aims to upgrade Chinese industries to help it become a global manufacturing powerhouse. However, China faces many obstacles such as expensive equipment and a bad health care reputation, though specialists are hopeful for the industry's future in the long run.