Over the past 25 years, China has experienced tremendous success in its economic and social reforms, leading to a dramatic improvement in the quality of living for many Chinese, especially in the urban areas.
With demands increasing, the Chinese government started a health reform in 2009, which has EUR 140 billion worth of investments.
For the short-term plan of the healthcare reform, five keys are defined: basic medical insurance system, a national essential drug scheme, a grass root medical service scheme, a basic public health service, and reform of public hospitals. These fields open tremendous opportunities for the Chinese medical industry. China can also be a huge market even for niche products.
CHINA MANUFACTURING INDUSTRY
China’s manufacturing industry has seen remarkable development and its general scale has ranked as one of the world’s best with obvious comparative advantages internationally. Currently, the manufacturing sector plays a significant role in the country’s economic growth and basis for economic transformation.
Over the last 30 years, Chinese economy has undergone a rapid growth. With a GDP of US$5.7 trillion, China overtook Japan as the second largest economy in the world in 2010. The significant growth in the economy is largely due to the contributions from the development of the manufacturing industry.
Equipment manufacturing serves as a significant industry of economic development in many countries. It has also become an integral part of the production chain in most of the key industrial industries in the world. Over the years, equipment manufacturing has morphed into a complex technological industry, demanding highly skilled workforce and an extensive research and development capacity.
Smart Grid investments in China
China has become the world’s consumer of electricity, and it is expected to double its demand for electricity by the next decade and triple by 2035. Today it is poised to become a major consumer of smart grid technology.
Smart grid is an automated, widely distributed energy delivery network with responsive and organic capabilities. The adding monitoring, analysis, control, and communication capabilities of smart grids can greatly reduce the energy consumption.
Smart grid will be an effective approach to the increasing amounts of wind energy and solar energy. China has to figure out how to bring trillions of kWh of power to more than a billion customers, with distance being one of the challenges.