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Health Care: The Next China Boom?

Mike King
October 3, 2012

SYDNEY -- China's move from an emerging industrial nation to one with a large middle-class society and an ageing population is likely to see many Australian health care companies benefit.

According to the Australian Financial Review, China plans to triple annual spending on health care to US$1 trillion by 2020, to become the second-largest health care market in the world, behind the U.S. China's Ministry of Health has said that government spending on health care has nearly doubled in just three years to $113 billion by 2011.

With a population of 1.3 billion people -- (more than four times the U.S.) -- it's not hard to see the potential opportunities in China, and with the government providing basic health care for 95% of the population, many health care companies have set their sights on t