Sep 05, 2024In this era of globalization, Chinese enterprises are entering a golden age of internationalization. To explore broader global opportunities, entrepreneurs from the Dushu Lake Alliance, representing the medical technology innovation sector, gathered in Suzhou for an exchange of ideas and insights. They discussed new approaches, directions, and models for the international expansion of China’s medical device industry. SIG Tax & Accounting was honored to be invited, along with Singapore’s Economic Development Board (EDB), to engage with these entrepreneurs, exploring future collaboration opportunities and helping Chinese companies integrate into the global wave of medical technology innovation.
Dushu Lake Alliance President Ning Yihua, in his opening speech, emphasized that Chinese medical device companies are actively expanding into international markets, focusing on product promotion, service expansion, and deeper integration into the global healthcare industry. Throughout this process, companies have not only closely aligned their products with overseas market demands but have also continuously iterated and upgraded their offerings to optimize them for global use. By introducing advanced management practices and technical parameters, Chinese products are increasingly integrating with international standards, facilitating smoother entry into global markets.
Yao Yong, Chairman of Aixin Intelligent Healthcare, pointed out that establishing a collaborative platform within the industry can drive the global expansion of the medical device supply chain. This collaborative model enables multiple companies and products to successfully enter international markets, building a competitive alliance of Chinese medical device companies. Such a global market expansion strategy provides strong support for Chinese companies as they venture into the global stage, which was a key focus of the discussions.
Lee Jiaying, a manager from Singapore’s Economic Development Board, provided attendees with a detailed overview of investment opportunities in Singapore’s healthcare and medical device sectors, highlighting the government’s strong support for these industries.
Sheena, Chairman of SIG, shared practical insights gained from helping companies establish a presence in Singapore, offering guidance on critical areas such as company registration, product certification, and regulatory approvals. Her advice provided entrepreneurs with valuable business wisdom for navigating international expansion.
A Blueprint for Future Growth
This event demonstrated the steady progress of Chinese medical device companies as they step onto the global stage. Through in-depth discussions on global integration, collaborative overseas expansion, and industry support, entrepreneurs collectively mapped out a new path for the internationalization of China’s medical device industry.
SIG Tax & Accounting remains committed to participating in knowledge exchange platforms, helping companies ignite innovative thinking and create more opportunities in the global market. We believe that the sharing of knowledge and experience is an indispensable force for driving business growth in today’s evolving global landscape. SIG looks forward to continuing its role in helping Chinese companies achieve greater success on the international stage.
