China's medical equipment industry expands in 2019

BEIJING -- China's medical equipment industry saw a total revenue of more than 720 billion yuan (about $109.9 billion) in 2019, an industry report showed.

The revenue was 12 percent higher than that in 2018, according to a report released by the China Society for Drug Regulation (CSDR).

Wang Baoting, vice president of CSDR, said China's medical equipment industry will continue to expand, with more innovative products entering the market.

The country has started an emergency approval procedure this year, approving 43 kinds of diagnostic kits and a large quantity of medical equipment to combat COVID-19.