Hainan free trade port eyes foreign capital to boost medical development
The Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration on May 14 signed a contract with Global Magellan Investments Ltd. to jointly establish an equity investment fund to attract foreign capital in the medical and health sector of the Hainan free trade port, reported Shanghai Securities News Monday quoting Hainan Daily.
According to the contract, the two sides will leverage the Qualified Foreign Limited Partner (QFLP) policy of the Hainan free trade port to conduct investment cooperation in the transformation of international advanced medical technology, drugs and medical devices, medical beauty, commercial insurance, new drug research and development, medical training and other aspects.
The Hainan Free Trade Port Boao Lecheng Global Investment Fund established this time will help Hainan introduce a variety of high-quality overseas financial resources, including institutional funds and portfolio funds, etc., and meanwhile assist investee companies to get listed in China or overseas, said Lin Youxin, chairman with Global Magellan Investments Ltd.
According to Lin, Global Magellan Investments Ltd. expects to strengthen cooperation with the Hainan Boao Lecheng International Medical Tourism Pilot Zone, and provide local medical enterprises with whole industrial chain services such as overseas investment attraction, enterprise investment incubation and domestic and overseas listing.
The cooperation is helpful for Hainan to truly support a number of competitive free trade port enterprises by introducing good capital and implementing favorable policies, and to accelerate the return of overseas medical consumption and promote the domestic circulation by actively promoting the effective connection between international advanced medical resources and domestic health needs, stated an official from the Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration.
