China announced a slew of policies to further open up its health care sector to foreign investors, adding to efforts to revive the world’s second-biggest economy.

Foreign capital will be allowed to engage in the development and application of technologies covering stem cells, gene diagnosis and treatment in the pilot free trade zones in Beijing, Shanghai, Guangdong and Hainan, according to a statement posted on the website of the Ministry of Commerce. All products that have been registered, marketed and approved for production can then be used nationwide.

The government will also allow the setup of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen and Hainan island, according to the statement. However, the acquisition of public hospitals and facilities practising traditional Chinese medicine are still not permitted, it added. The new policy takes effect immediately.

  - Bloomberg