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China's healthcare spending expected to take up 6.5% of GDP by 2020

2014-01-10 13:29 CNTV Web Editor: Li Yan

The over-prescription of medical treatments is a growing concern in China. It can lead to both excessive healthcare spending and a heavy burden on patients.

According to the Ministry of Health, total public health expenses in 2012 increased by 20 percent from the previous year, reaching 2.9 trillion yuan. By 2020, health expenses are expected to take up 6.5 percent of GDP, one percent higher than in 2012.

Meanwhile, with more patients and procedures, the volume of medical instruments sales has also soared. In 2011, sales totaled 120 billion yuan, or roughly 20 billion dollars. And that figure is expected to more than double to 300 billion yuan, or 50 billion dollars, by 2015.

And according to a report from the 21st Century Business Herald, hospitals can sometimes get kickbacks of over 10-percent from medical sales companies.

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