Global Vision, Innovation & Collaboration: Medical Device Going Global Forum and Global Healthcare Innovation Product Sourcing Event Successfully Held

Standing at this historical intersection of globalization and innovation, China’s innovative strength and international competitiveness in the medical device sector are becoming increasingly prominent. Many Chinese medical products now possess the technical capabilities to compete head-to-head with the world’s strongest rivals, making overseas markets a new frontier for Chinese medical device companies to expand their reach. However, the path to global expansion is not only vast and promising but also fraught with challenges. Unfamiliarity with overseas regulations, lack of understanding of international commercial processes, difficulty in identifying suitable business models, and inadequate local execution are all obstacles that Chinese medical device enterprises must confront in their international development.On May 10, the 2024 Future Medical Ecosystem Exhibition · Medical Device Global Expansion Forum and Global Medical Innovative Product Sourcing Event, co-hosted by VB100, VCBeat, and GTJA Investment, was successfully held. At the conference, representatives from diplomatic missions in China of countries including Australia, Belgium, Ireland, Singapore, the United Kingdom, Germany, Indonesia, Spain, and Russia, as well as international distributors and industry-leading enterprises, engaged in in-depth discussions on topics such as market trends, popular destinations for global expansion, and technological innovation. They jointly explored new models, pathways, and strategies for Chinese-made medical devices going global, while sharing successful experiences.

Qu Weixi, Vice President of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce and President of the China Convention and Exhibition Society, delivered the opening remarks.He noted that while the global landscape remains complex and challenging, China’s economy continues to maintain its positive growth trajectory. As a key platform for building an open economic system, the exhibition industry serves as a vital link in connecting industrial and supply chains, as well as a window into global economic recovery. Expanding overseas is becoming a major strategic direction for the accelerated development of the exhibition sector. The healthcare industry is increasingly emerging as a critical pillar of national development, with profound implications for promoting economic growth and improving living standards. He expressed firm belief that the wave of Chinese exhibition companies going global will create new growth opportunities and breakthroughs for the healthcare industry, particularly for medical device exports. He looks forward to this event facilitating the entry of more high-quality medical device products into international markets, thereby contributing to global healthcare advancement. Finally, he wished the forum every success.

Qu Weixi, Vice President of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce and President of the China Convention and Exhibition Society, delivered the opening remarks.

Jiang Huai, Vice President and Secretary-General of the China Convention and Exhibition Economy Research AssociationShared with everyone“Exhibitions Going Global: A New Growth Frontier for the Internationalization of Industrial Development”Keynote Address. He noted that, under the dual-circulation development paradigm, the Chinese government has introduced multiple policies to encourage enterprises to participate in and organize exhibitions overseas, thereby actively expanding into international markets. The healthcare industry holds a significant position in international trade and has become one of the key pillar industries of national strategy, with its participation in overseas exhibitions ranking among the top nationwide, demonstrating strong growth momentum. In response to the risks faced by Chinese companies in organizing overseas product exhibitions—such as regulatory, market, cultural, resource, and team-related challenges—he recommended that companies conduct thorough market research in advance, select appropriate partners, and familiarize themselves with supportive policies when exhibiting abroad.

Jiang Huai, Vice President and Secretary-General of the China Convention and Exhibition Economy Research Society, Delivered a Keynote Speech Titled “Going Global with MICE: A New Opportunity for the Internationalization of Industry Development”

Wang Haijiao, Deputy General Manager of GTJA InvestmentAt"Opportunities and Challenges for Medical Device Companies Expanding Overseas"In his thematic presentation, he analyzed the wave of overseas expansion by medical device companies from a capital perspective, focusing on four aspects: payment, supply, decision-making, and demand. Currently, the value of medical device exports is continuously growing, the proportion of high-value-added products is increasing, enterprises are showing strong enthusiasm for going global, and their international influence is expanding. He suggested that small and medium-sized enterprises (SMEs) should clearly define their market positioning, carefully select their overseas expansion models based on their specific characteristics, and accelerate the construction of support systems to address talent and cultural challenges. Where do the future opportunities and challenges lie for medical device companies expanding overseas? He believes that, first, greater emphasis should be placed on independent innovation and intellectual property protection to win markets through technological innovation and strong product capabilities; second, Chinese companies should seize the “AI+” opportunity to establish leading positions and unique advantages for their exported products; third, while internationalization is an inevitable choice, development foundations and resource endowments vary across regions, so companies should actively research and explore regionalized opportunities in the global market.

Wang Haijiao, Deputy General Manager of GTJA Investment, Shares “Opportunities and Challenges for Medical Device Companies Going Global”

Cai Zixuan, Director of the International Department, China Association for Promotion of UN ProcurementIn“UN Procurement: A New Direction for Chinese Companies Going Global”Shared insights into the nature, role, procedures, and opportunities of United Nations procurement. As a form of global public procurement covering goods and services, UN procurement primarily supports the organization’s internal operations, peacekeeping missions, emergency relief efforts, and regional peace and development initiatives. According to the UN Annual Procurement Report, the healthcare sector accounts for the largest share of total UN procurement expenditure. Leveraging their production capacity and supply chain advantages, Chinese enterprises are well-positioned to further increase their share in this market. Participation in UN procurement enables Chinese companies to enhance their corporate value by cultivating an international perspective, boosting global brand recognition, and obtaining qualifications for UN supplier status, thereby generating both profits and international influence.

Cai Zixuan, Director of the International Department of the China Association for the Promotion of United Nations Procurement, Shares “UN Procurement: A New Direction for Chinese Enterprises Going Global”

Subsequently, diplomatic missions in China from Australia, Belgium, Ireland, Singapore, the United Kingdom, Germany, Indonesia, Spain, Russia, and other countries shared opportunities for overseas expansion.

Australia: The Medical Device Industry Is at the Forefront Globally

Mr. Bai Yaning, Commercial Counsellor at the Commercial Section of the Australian Embassy in China and Trade and Investment Commissioner at Austrade, stated that Australia’s healthcare industry boasts significant technological innovation and strong global competitiveness. Benefiting from economic growth, capital market support, and multicultural integration, the sector is underpinned by a skilled and dynamic workforce. In terms of R&D and innovation, the Australian government has established the A$22 billion Medical Research Future Fund, along with R&D tax incentives and the National Reconstruction Fund, to continuously strengthen research, development, and commercialization efforts. In 2022, the market size of Australia’s healthcare services industry was approximately US$140 billion, with the majority of its medical devices exported to global markets.

Yaning Bai, Commercial Counsellor of the Australian Embassy in China, Introduces Australia's Overseas Expansion Opportunities

Flanders, Belgium: Focusing on R&D and Manufacturing of Medical Devices

Located in the heart of Europe, Flanders is not only a gateway to the EU market but also boasts a well-developed medical device industry, with a focus on the research, development, and manufacturing of medical equipment. The region is also home to ORSI, Europe’s largest surgical robotics training center. “We have four university hospitals and 49 general hospitals, providing a combined total of over 29,206 beds, which offers abundant application scenarios for medical technology innovation.”

“In addition, Flanders is home to five top-tier universities and four internationally renowned strategic research centers, focusing respectively on microelectronics, biomedicine, clean technology, and high-end manufacturing,” said Kong Zhi’ang, Commercial Counselor of the Flanders Regional Business Office at the Belgian Embassy in China.

Kong Zhi'ang, Commercial Counselor of the Flanders Business Office at the Belgian Embassy, Introduces Development Opportunities in Flanders, Belgium

Ireland: The Global Hub for Medical Technology

Xiao Jia, Director of the Life Sciences Sector for China at IDA Ireland, outlined the development opportunities for Chinese enterprises expanding into Ireland, focusing on three key areas: Ireland’s investment landscape, the medical device and medtech ecosystem, and local support policies. As Europe’s westernmost young nation, Ireland boasts a robust economy, high educational standards, an internationalized workforce, moderate labor costs, and favorable tax policies, making it one of the world’s premier investment destinations. Ireland serves as a major hub for the medical device industry, hosting over 300 companies with annual exports reaching €13 billion. Key sectors include cardiac, cardiovascular, and orthopedic devices, with global leadership particularly evident in contact lenses, cardiovascular stents, and artificial joints.

Jia Xiao, Director of the Life Sciences Sector in China at IDA Ireland, Introduces Opportunities in Ireland’s Life Sciences Industry to Attendees

Singapore: A Rich Ecosystem for Medical R&D

Cai Xuan, Director of the Greater China Region at the Singapore Economic Development Board (EDB), shared successful case studies of Chinese healthcare and medical enterprises expanding into Singapore. Singapore boasts a diversified economy, with biomedical manufacturing playing a pivotal role; four of the world’s top ten pharmaceutical manufacturers have operations in the country. The medical technology sector in Singapore is also experiencing rapid growth, attracting numerous multinational corporations to establish their headquarters or production bases there, leveraging its logistics resources to reach Southeast Asian markets. Furthermore, the government’s “Singapore Plus One” initiative encourages companies to locate their headquarters, research and development, and IP-related manufacturing activities in Singapore, enabling businesses and manufacturers to capitalize on the complementary advantages between Singapore and the surrounding region.

Cai Xuan, Director of Greater China at the Singapore Economic Development Board, Shares Opportunities for Development in Singapore

UK: The Premier Destination for Life Sciences in Europe

Han Rui, Consul for Life Sciences and MedTech at the British Consulate-General in Shanghai, welcomed active collaboration between Chinese and British enterprises in the life sciences sector to co-create value. He noted that the UK is one of the world’s top three life sciences hubs, boasting world-leading scientific research capabilities and an innovative ecosystem. British innovators in life sciences have been awarded more than 80 Nobel Prizes; the country ranks third globally in early-stage clinical trials and fourth in the Global Innovation Index. The UK government is committed to investing in the life sciences industry, providing tax incentives through policies supporting R&D and exports. Furthermore, there are extensive opportunities for cooperation between the UK and China in fields such as healthy aging and genomics.

Han Rui, Consul for Life Sciences and Medical Technology at the British Consulate-General in Shanghai, Introduces Opportunities for Expanding into the UK Market

Indonesia: The Optimal Entry Point for Expanding into Southeast Asia

Li Yuansheng, Chairman of the China-Indonesia Chamber of Commerce, began by providing an overview of Indonesia. As an Asian member of the G20, Indonesia boasts a stable economy with the fourth-fastest growth rate globally, stable inflation, and a GDP primarily driven by household consumption and investment. In the fields of pharmaceuticals, chemicals, and medical devices, Indonesia attracts substantial foreign investment, with China being its largest investor. Significant healthcare reforms have been implemented in Indonesia, where healthcare expenditure is growing at a faster rate than GDP. The predominant local diseases include heart disease, kidney failure, cancer, and stroke. Given the substantial demand within the healthcare system, there is immense market potential for medical equipment, healthcare services, and pharmaceutical products.

Li Yuansheng, Chairman of the China-Indonesia Chamber of Commerce, Introduces Investment Opportunities in Indonesia’s Healthcare Sector

North Rhine-Westphalia, Germany: A Key Hub for Biopharmaceutical Development in Germany

Germany holds the leading position in the European pharmaceutical market. Driven by a vast healthcare market stemming from an aging population, growing demand for therapeutic care, extensive insurance coverage for chronic disease treatment, R&D in new materials and biomedical devices, as well as the application of digital production and communication technologies, the German pharmaceutical market boasts tremendous potential. Zhang Zongliang, Marketing Director of the Beijing Representative Office of NRW.INVEST (North Rhine-Westphalia International Business Agency), introduced that North Rhine-Westphalia, located in western Germany, is a key region for biomedical development in the country, endowed with abundant medical resources. The state has not only attracted numerous biotechnology companies to establish operations there but also received strong government support in scientific research and industrial development.

Zhang Zongliang, Marketing Director at the Beijing Representative Office of NRW.INVEST, Shares Overseas Expansion Opportunities in Germany’s North Rhine-Westphalia

Catalonia, Spain: A Prime Choice for Entering the European Market

Zhang Shumin, Senior Trade and Investment Officer at the Catalonia Trade & Investment Agency (ACCIÓ) of Spain, introduced that Catalonia is an important autonomous community in northeastern Spain, recognized as one of Europe’s key engines of economic development. In the field of life sciences, Catalonia boasts strong capabilities, with several hospitals ranked among the world’s best. University hospitals collaborate closely with research institutions to facilitate the integration of R&D and clinical practice. The region also features world-leading research facilities, active clinical trials, and has attracted numerous multinational pharmaceutical companies to establish their R&D centers. Furthermore, Catalonia’s vibrant life sciences startup ecosystem, particularly its significant growth potential in digital health, has made it a hotspot for international institutional investment.

Zhang Shumin, Senior Trade and Investment Officer at the Catalan Trade and Investment Office in Spain, introduced the development of the healthcare industry in Catalonia, Spain, to the audience.

Russia: The Third-Largest Market for Chinese Medical Devices in the Future

Sino-Russian economic and trade relations have achieved significant growth despite the complex international environment, particularly in the medical device sector, where Russia is projected to become the third-largest market for Chinese medical devices. Although the Russian market is substantial, its rate of domestic production remains low. In contrast, China’s medical device industry boasts a complete supply chain, strong innovation capabilities, and rapid response times, presenting significant opportunities for Chinese manufacturers to enter the Russian market. Meanwhile, the Russian medical device market faces multiple challenges, requiring companies expanding overseas to make prudent decisions and avoid blind bandwagoning. Brand, distribution channels, and talent are the core elements of competitive advantage in international expansion. Dr. Zhao Wenlong, Vice President of the Russian Health Technology Assessment Experts Association and General Manager of ECO MEDTECH, stated, “True successful internationalization means not only exporting products but also establishing a lasting brand presence.”

Dr. Zhao Wenlong, Vice President of the Russian Association of Health Technology Assessment Experts and Representative of ECO MEDTECH, Introduces Opportunities and Strategies for Chinese Medical Device Companies Expanding into the Russian Market

GeneOnline & BioDND: Empowering the Global Expansion of Life, Health, and Medical Technologies

Lin Tailong, Chief Innovation Officer of GeneOnline & BIODND and Director of the HSC Healthcare System Alliance, introduced their innovative project, “GeneOnline & BIODND—Life and Health MedTech Global Expansion Service Platform.” The project is dedicated to providing comprehensive marketing services for the life sciences sector, including international roadshows, launch event planning, and global media operations. It has successfully hosted over 100 international matchmaking events and roadshows in multiple cities worldwide, accumulating more than 300 supporting clients, including collaborations with several Nobel laureates. Furthermore, Mr. Lin discussed how the company delivers full-spectrum marketing services to the life sciences track, such as media placement and brand value-added services, and shared insights into the company’s global network and client base. The globally launched BIODND Life Science Industry Information Database Platform has currently aggregated data on over 10,000 enterprises across the life science industry chain, covering markets in the United States, Canada, Europe, Japan, South Korea, Australia, India, and beyond, comprehensively facilitating companies’ successful global expansion.

Lin Tailong, Chief Innovation Officer at GeneOnline & BioDND and Board Member of the HSC Healthcare System Alliance, Delivers Keynote Presentation

Smartdeer: One-Stop Global HR Services

Pang Lü from SmartDeer, a one-stop global HR service provider, shared the challenges and strategies for Chinese enterprises expanding overseas in terms of human resources. He believes that Chinese companies going global often face two major HR-related challenges: permanent establishment risks and immigration legal issues. He analyzed the various stages of Chinese enterprises’ international expansion and proposed specific staffing strategies tailored to each stage. He pointed out that special attention should be paid to double taxation risks in HR management during overseas expansion. Visa issues also require careful consideration. Through compliant operations and effective management, companies can significantly reduce labor costs and ensure steady growth throughout their global expansion. SmartDeer is a platform offering one-stop global HR services, helping businesses recruit top talent worldwide and manage global employment compliance and payroll processing.

Pang Lü, Head of SmartDeer Global Services, Delivers Keynote Presentation

During the forum, representatives from Infervision, Wisetest Bio, Jinxiang Medicine, Jinxie Medical, and Weichima also unveiled their companies’ highly innovative and globally competitive new products.

Wu Jian, Vice President of Government Affairs at Infervision Medical Technology Co., Ltd., Shares “China’s AI Empowers the World”

Xia Weibing, International Sales Director at Microtest Biotech, Shares Insights on “Opportunities and Challenges in Overseas Localization”

Jinxiang Medicine CTO Lou Feng Shares “Innovation-Led, Precision Medicine: R&D and Clinical Application of Urinary Biomarkers for Urological Tumors”

Bo Wenzhu, Deputy General Manager of Tianjin Jinxi Medical Equipment Co., Ltd., Shares “Mobile Head CT: A Rapid Diagnostic Tool for Head Injuries in Critically Ill Patients”

Chen Chun, Chief Representative of the Beijing Representative Office of Weichima (Germany), Shares “Introduction to Lepu Shenda’s Endoscope Product Series”

Global expansion is not only a priority that medical innovation enterprises must address today, but also a long-term strategic commitment. VBEF will continue to focus on the global expansion needs of enterprises, building bridges and ecosystems to support Chinese medical device companies in successfully entering international markets.