In the news: Samsung and BYD cooperate, Guangdong FTZ eases visa rules and e-health takes off in China

Guangdong FTZ relaxes visa rules

The Ministry of Public Security has promised a series of favorable immigration policies for skilled foreign employees in the Guangdong pilot free trade zone (FTZ). The 16 measures issued on July 18 include simplified visa and permanent residence application procedures for foreigners and overseas Chinese, swifter approvals for skilled foreign workers, and support for foreign student startups. They also allow foreigners who meet salary and tax standards to apply for permanent residency as well as visa exemptions for personnel from certain countries within specified times at Guangdong customs. The rules will take effect on August 1. Guangdong has always held one of China's highest provincial GDP rankings. The Guangdong FTZ, promoted as a shipping logistics, high-end manufacturing, finance and trade center, is aimed at integrating the economies of the mainland, Hong Kong and Macau. And while market access for all four FTZs in China are equal, Hong Kong and Macau investors could benefit from more favorable liberalization policies under CEPA.

Chinese people embrace e-health, survey shows

In a survey conducted by global market consultancy Accenture, nearly 80% of 12,009 respondents in China indicated they had registered for internet-based healthcare services. The results also showed that many use mobile apps and WeChat for access, search for medication information and use online doctor consulting services, which were said to save patients from long waiting queues and allow for selecting convenient times and choosing experts from across the country. there are, however, concerns regarding personal data privacy, absence of direct examination and insurance. E-health is an emerging trend in China—the Boston Consulting Group predicts the market will reach $26 billion in 2017 and a number of popular platforms have raised hundreds of millions in financing backed by global investors. The demand for digital services that offer online diagnosis, video consultations with doctors and home delivery of prescription medicines has been attributed to an inefficient healthcare system. And while the government works to address these challenges and relieve pressure on public hospitals and clinics, it needs to regulate the grey area of health technology—the Baidu advertising scandal was a big wake up call.

Samsung and BYD cooperate in electric vehicles

Samsung Electronics Co. said it will acquire a stake in BYD Co. through a $2.3 billion share sale being conducted by the Chinese electric vehicle (EV) and battery maker. The Korea Economic Daily reported that Samsung has agreed to buy $449 million of BYD shares, and according to a Shenzhen Stock Exchange filing, the target company said the two parties will work together on EV components. The move comes as tech companies tap the auto industry's shift toward electric and self-driving cars. The Korean conglomerate parent is already a significant player through subsidiaries Samsung Electro-Mechanics, which makes auto cameras, sensors and telecom modules, and Samsung SDI, which manufactures EV batteries. The latter faced certification troubles in China in late June, when the PRC Ministry of Industry and Information Technology excluded it—along with LG Chem—from a list of authorized EV battery makers whose products are eligible for financial subsidies. This upcoming deal, however, raises expectations that Samsung SDI may be in line to supply its batteries to BYD.

Guangdong FTZ relaxes visa rules

The Ministry of Public Security has promised a series of favorable immigration policies for skilled foreign employees in the Guangdong pilot free trade zone (FTZ). The 16 measures issued on July 18 include simplified visa and permanent residence application procedures for foreigners and overseas Chinese, swifter approvals for skilled foreign workers, and support for foreign student startups. They also allow foreigners who meet salary and tax standards to apply for permanent residency as well as visa exemptions for personnel from certain countries within specified times at Guangdong customs. The rules will take effect on August 1. Guangdong has always held one of China's highest provincial GDP rankings. The Guangdong FTZ, promoted as a shipping logistics, high-end manufacturing, finance and trade center, is aimed at integrating the economies of the mainland, Hong Kong and Macau. And while market access for all four FTZs in China are equal, Hong Kong and Macau investors could benefit from more favorable liberalization policies under CEPA.

Chinese people embrace e-health, survey shows

In a survey conducted by global market consultancy Accenture, nearly 80% of 12,009 respondents in China indicated they had registered for internet-based healthcare services. The results also showed that many use mobile apps and WeChat for access, search for medication information and use online doctor consulting services, which were said to save patients from long waiting queues and allow for selecting convenient times and choosing experts from across the country. there are, however, concerns regarding personal data privacy, absence of direct examination and insurance. E-health is an emerging trend in China—the Boston Consulting Group predicts the market will reach $26 billion in 2017 and a number of popular platforms have raised hundreds of millions in financing backed by global investors. The demand for digital services that offer online diagnosis, video consultations with doctors and home delivery of prescription medicines has been attributed to an inefficient healthcare system. And while the government works to address these challenges and relieve pressure on public hospitals and clinics, it needs to regulate the grey area of health technology—the Baidu advertising scandal was a big wake up call.

In the news: Samsung and BYD cooperate, Guangdong FTZ eases visa rules and e-health takes off in China

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