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Creating a favorable policy environment

China Daily | Updated: 2019-11-13 09:59
Visitors gather at the booth of Carestream Health Inc during a medical equipment exhibition in Shanghai. [Photo provided to China Daily]

Editor's note: The Chinese government has adopted a series of measures to boost economic growth, including stimulating consumption, further opening up to foreign investment, supporting private enterprises and encouraging technological innovation. China Daily asked senior executives of well-known multinational companies to share their views on the country's economic development and their companies' business strategies in China.

Medical imaging solutions provider finding opportunities and challenges as China builds a globally integrated economy

China has rolled out a series of measures to stimulate consumer spending and boost economic growth. What opportunities are there for your business?

As a global provider of traditional and digital solutions and services for medical imaging, Carestream Health has also seen opportunities for development under the favorable policy background. One is from the high-end market to the low-end market, and the other is the development of digitalization and informatization.

Carestream Health has inherited and developed the advanced imaging technology accumulated over the past 100 years, and has continuously explored and innovated in the era of smart healthcare, providing a variety of medical imaging solutions, including mobile X-ray systems, radiography software and a range of other products. We attach great importance to product development and innovation, and listen to the needs of customers to speed up the response to the market

Overall Chinese economic growth has slowed, but the top-line numbers remain relatively robust. In what areas do you plan to increase investment or employment?

Since this year, China's economy has been transforming into a high-quality one, and profound changes have also taken place in the healthcare industry. For enterprises, there are opportunities and challenges.

Carestream Health has always focused on its core business, that is, radiology, medical imaging and related areas. Starting in 2019, Carestream will also expand some satellite businesses through investment, mergers and acquisitions, while meeting the characteristics of profitability and growth, but still focusing on medical imaging and related businesses.

What business opportunities do you see as China continues to pursue higher-quality growth, which is increasingly driven by services and consumption?

The Outline of the Healthy China 2030 Plan provides a clear framework for the development of China's healthcare industry. China's healthcare expenditure is expected to grow at an annual rate of 8.1 percent in the next five years, which is undoubtedly a great opportunity for healthcare enterprises.

With the deepening of healthcare reform and the support of the national hierarchical medical system and other policies, the local healthcare market is facing unprecedented opportunities for development. As early as 2007, Carestream Health established a special local medical team to develop and launch products suitable for its needs. We are also actively promoting a major project to establish a "secondary kitchen", learn from the technology of developed countries in Europe and the United States, and make some cheap, solid and easy-to-use products suitable for the local market in China.

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