CCB International, the Hong Kong-based investment arm of Chinese commercial bank China Construction Bank, plans to launch a healthcare fund, a spokeswoman from the bank told PEO.
The RMB 5 billion ($732 million; €568 million) fund will be China’s first fund focused on the healthcare industry, according to media reports.
The fund will capitalise the growth of the Chinese healthcare industry and target pharmacy, medical equipment manufacturing, medical institutions and services, Hu Zhanghong, CCB International’s chief executive, told Xinhua News.
China’s economic boom, centred on its cities, has resulted in a health inequality between its urban and rural populations. Urban populations which account for 30 percent of China's population, use 80 percent of total health resources, according to a report in the International Journal for Equity in Health. Rural populations, which make up 70 percent of the population, use 20 percent of total health resources.
China Construction Bank is a joint-stock commercial bank. Its investment divisions include capital businesses, commercial and personal banking. The bank has approximately 13,629 domestic branches as well as overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul.