The Foreign Secretary, Philip Hammond, has witnessed the signing of a new UK-China hospital partnership that will further strengthen UK-China relations.
The UK’s International Hospitals Group and China’s Wanda Group have unveiled a 10 year exclusive global hospital partnership that includes involvement in building and managing the new 200 bed IHG Qingdao International Hospital and future projects in Shanghai and Chengdu.
Wanda says it will invest up to £1.5 billion in the first three projects, with IHG targeting revenue of at least than £300 million – another tangible example of benefits from the UK-China global partnership. Trade and investment between the UK and China has hit historic highs with up to £40 billion in deals signed during President Xi’s recent State Visit to the UK.
The UK enjoys a global reputation for a high quality medical system and service. UK expertise is sought-after by Chinese companies seeking commercial healthcare partnerships from medical training to hospital operation, medical investment and specific disease treatment.
UK Foreign Secretary, Philip Hammond said:
“I’m very pleased to witness this very significant agreement. It highlights the UK’s leading position to meet growing demand for healthcare cooperation in China and as a partner of choice in a range of sectors. Our strong bilateral relationship positions us well for collaboration in a range of fields as we pursue our global strategic partnership.”