CITIC Trust issues first healthcare fund in China

CITIC Trust Company on Thursday issued the first fund in the country's healthcare industry, following the State Council's recent call to boost the development of China's healthcare industry.

The fund, the first of its kind in China, aims to benefit its investors mainly by constructing and operating the "Jialize International Health and Wellness Center" in Kunming, Southwest China's Yunnan Province. Investors can also use the center's services after it is completed. The fund's overall size is expected to reach at least 10 billion yuan.

Three leading healthcare organizations in the UK and one from France are expected to cooperate with CITIC.

"The UK has rich expertise in e-health technology. UK organizations will make sure that the UK model, especially the national health service (NHS) model, will be adapted to China's situation," Brian Gallagher, commercial counselor of Trade and Investment for China at UK Trade & Investment, told the Global Times Thursday.

"China is facing a problem of an aging population. However, the corresponding public healthcare service for the aging population is inadequate," Fan Shibin, healthcare expert from Chinese Medical Doctor Association, told the Global Times Thursday.

Building a new healthcare model to meet the complex demands of China's healthcare services is urgent, Fan noted. China's aging population reached 194 million as of last year, occupying 14 percent of the total population, according to official statistics from Ministry of Civil Affairs.

"By investing in the healthcare industry, the trust companies should be cautious about how to balance making profits and satisfying customers, cost control and good management system," Zhong -Hongyue, a healthcare sector expert at consultancy Frost & Sullivan, told the Global Times Thursday.