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Burnet Institute has welcomed AusBiotech’s release of the China Guide, a Guide for Australian medical technology companies seeking to engage in China. It was launched at the recent AusMedTech conference in Melbourne. To access AusBiotech’s media release click here.
Head of Burnet’s China Program, Ms Lisa Renkin contributed to the writing of the guide as a member of the working committee, and featured a brief case study drawing on the experience of establishing Burnet’s first R&D company, Nanjing BioPoint, in Jiangsu province.
“Although the market and regulatory environment in China is changing rapidly and companies will need to continue to undertake up-to-date research, this China Guide will be a valuable resource for companies seeking to engage or strengthen their engagement with China,” Ms Renkin said.
Building on nearly 20 years of engagement, Burnet is actively developing its presence in China, through sourcing Chinese government grants and independent Chinese investment, and continuing a focus on public health research in the Western region of China.
AusBiotech said the China Guide is part of a larger project that seeks to facilitate medical devices and diagnostics trade and partnership with China by breaking down the information barriers for Australian companies.
The China Guide and the broader project are supported with funding from the Australian Trade Commission as part of the Asian Business Engagement (ABE) Plan. It provides information about IP management, information on business structures, the business, cultural and regulatory context, and other information considered vital in developing a business plan for China.
The Australian medical technology industry is increasingly seeking support to enter Asian markets, specifically China. Many of Australia’s companies are micro or small enterprises with a turnover of less than AUD$2 million, with limited capability to assess overseas markets independently.
China is one of the fastest-growing medtech markets in the world. Its astonishing growth is largely attributable to the country’s increasing government spending, underpinned by robust economic growth, which has led to improved healthcare access and infrastructure, as well as the ongoing expansion of public insurance coverage and infrastructure for less developed parts of the country.
The China Guide is delivered via AusBiotech’s AusMedtech, the national industry group that represents the medical technology sector, and is supported by generous in-kind support from major partners FB Rice and Deloitte. The project’s advisory committee included: Burnet Institute, Quintiles, L.E.K., Admedus, Duncan Hart Consulting, China BlueSky Partners and Brandwood Biomedical.