I am on my way to meet with the Changzhou government on Wednesday June 17th. They are extremely interested in encouraging Medical Device companies to set up their operations in Changzhou, a city located roughly an hour outside of Shanghai. In exchange for setting up in Changzhou, they are offering, among other things to assist in expediting the Chinese FDA process.
We are currently working with some of our clients to find a successful strategy for everyone to go in and sell into the Chinese market. Among many other areas, we recently learned that China has roughly 1 in 4 of the diabetics in the world. We have also seen a massive growth in new hospitals being built. From a corporate standpoint, a business can see a few key factors happening in China that provide both a need for today and an immense market opportunity tomorrow. With the rising middle class in China and the massive build out of hospitals, there is both a market demand for better services as well as a lack of supply (quickly changing, but not changed yet) due to the lack of previous infrastructure. Figuring out the best way to access this market demand is key for any company wanting growth into the world's second largest economy. And finding a way to do this without overextending your business finances can be tough. We have developed a strong solution to this problem, contact us today to find out more.