Innovation and R&D central to investment in industry

Investment opportunities for China's healthcare sector lie in research and innovation, as well as mergers and acquisitions, said investors at a forum for Chinese business ventures.

Last year, each of the three largest Chinese pharmaceutical companies by investment in research and development spent more than 1.5 billion yuan ($219 million) on R&D.

"Healthcare investment is turning from market speculation to real investment, and from arbitrage to value investment. Previously, investors attached great importance to marketing and ignored technologies, but they are now highlighting innovation as a way out," said Xu Xiaolin, chairman of the Beijing-based private equity investment firm Huagai Capital Co Ltd, at a three-day forum for entrepreneurial enterprises and investors which ended on Thursday in Beijing.