Interview: Huge market potentials of China's health care sector seen at import expo: Israeli businessman

Source: Xinhua| 2018-11-14 05:40:16|Editor: Chengcheng
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by Xinhua writer Chen Wenxian

JERUSALEM, Nov. 13 (Xinhua) -- Huge market potentials of China's health care sector were discovered at the just-concluded first China International Import Expo (CIIE), Yacov Geva, president and CEO of Israeli G. Medical Innovations Ltd, told Xinhua in an interview.

This is one of the best exhibitions in the world and actually the biggest one with huge market opportunities and cooperation potentials, said Geva, after returning home from the six-day CIIE that ended in Shanghai on Nov. 10.

Geva's company is one of thousands of exhibitors from across the world which participated in the event. His company, focusing on developing and marketing clinical and consumer mobile health monitoring solutions, presented two products at the CIIE.

One is the G. Medical Patch, a modular, easy-to-use clinical-grade solution for monitoring patients throughout the health care life cycle; and the other is the individual Prizma, which turns individual smartphone into his own mobile medical monitor with all personal vital signs and biometric parameters.

The whole atmosphere at the CIIE was "fantastic" and "unbelievable", noted Geva, adding visitors' reaction to his company's exhibition was "so good and so positive."

Lots of Chinese companies showed interest in his products and wanted to do business with his company, said Geva.

A total of 172 countries, regions and international organizations, and more than 3,600 enterprises participated in the six-day event, which attracted more than 400,000 domestic and overseas purchasers, according to the CIIE Bureau.

Deals for intended one-year purchases of goods and services worth a total of 57.83 billion U.S. dollars were reached at the expo, including 5.76 billion dollars of medical equipment and health care products.

"The purpose of attending the exhibition is to expose yourself to the world and many companies, distributors, potential customers, potential investors, potential strategic partners are coming to look for interesting products and interesting companies," said Geva.

Geva said he talked a lot about the great potentials of China's medical and health care market and cooperation opportunities in China with his neighboring exhibitors.

In their eyes, China is the biggest market in the world and the Chinese health care market is also huge because China has a huge aging population and Chinese people want to have a better health care system.

Geva, who visits China almost once a month, didn't have any hesitation in booking a space at the first expo. Next year, Geva plans to have a bigger booth, as his cimpany has already signed a contract to attend the second CIIE in 2019.

"China today is not anymore the biggest manufacturer of the world but the biggest consumer of the world. This is why it's so important for us and other companies to be in China. If they want to do business in China they have to be in China," said Geva.

G. Medical Innovations has built a joint venture and its products will be soon assembled in Guangzhou, capital city of south China's Guangdong province. It also has a plan for expansion in the future.

At present, the company's products are mainly marketed in Europe and the U.S., but it is now applying for license from the China Food and Drug Administration to market them in China. The license is expected to obtained in 4-6 months from now.

As early as in 1994, Geva started doing business with Chinese partners. During the past decades, he has witnessed the significant changes in China.

The Chinese market is a "growing and dynamic" market and the evolution is "so quick" in China, said Geva.

Geva said he was inspired by the positive message issued by the Chinese government that pledges to open China's doors wider to attract more and more foreign companies.

China is expected to play an increasingly important role in pushing forward the development of global economy, he added.