Global players made their way to Singapore’s Medical Fair Asia expo to seek out opportunities in the region’s booming senior healthcare sector.

Advances in smart technology that can improve care for the elderly were the highlight of the Medical Fair Asia 2024 show in Singapore.

Mainland China’s e-commerce market is booming, but competition is fierce. Many in the health products sector believe that “Brand Hong Kong” inspires confidence among mainland consumers. As a result, Hong Kong health brands looking to explore the mainland market may find it advantageous to explore the demand there via cross-border e-commerce channel, which allows them to bypass the cumbersome product registration procedures associated with “general trade” practice. It also enables them to gauge consumer responses through e-commerce retail platforms. These insights can then be used to develop long-term strategies for venturing into the mainland market.

With many exhibitors at the Malaysia Pharma and Healthcare Expo looking for new markets, Hong Kong led the list of possible expansion hubs.

Attendees at the recent Malaysia Pharma and Healthcare Expo seemed only too aware of Hong Kong’s potency as a global sourcing platform.

On 31 December 2024, the market regulation bureau and other departments of Guangzhou’s Nansha District jointly released a work plan to implement, on a trial basis, a white list for imports of materials used in biomedical research and development. The plan took effect on the same day and will remain in force for two years. It specifies the scope of the pilot scheme and includes details for the establishment of a joint promotion working group, the approval procedure in relation to white list applications, and the mechanism for adjusting the white list every six months.

The General Administration of Customs has released detailed rules for the implementation of a zero tariff policy for imports of drugs and medical devices at the Hainan Free Trade Port. A policy document specifies eligible importing entities, the types of products they can import, and the procedures required for zero-tariff treatment. Electronic accounts will be kept for all duty-free imports of such goods.

CBP will accept public input through 28 February on separate proposals to reclassify certain earrings and heart medication.

On 31 December, Hainan province released – with immediate effect – administrative measures implementing a zero tariff policy for the import of drugs and medical devices at its free trade port. Accredited healthcare institutions, medical education institutes, and pharmaceutical research institutes in the Boao Lecheng International Medical Tourism Pilot Zone will be exempted from paying import duties and value-added tax when they import certain drugs and medical devices. The measures also cover the management and usage of these imported drugs and medical devices.

On 21 January, the National Medical Products Administration announced a policy to streamline the approval procedures for Hong Kong and Macao-registered traditional proprietary Chinese medicines for oral use on the mainland. Its measures took immediate effect and apply to traditional proprietary Chinese medicines for oral use held by manufacturing companies in Hong Kong, provided they are registered with the Chinese Medicine Council of Hong Kong and have been in use in Hong Kong for more than 15 years. Manufacturing processes for these medicines must comply with the requirements laid out in the document Good Manufacturing Practice.