The larger tax cuts in the history of medical equipment have come with a bullish share of imported medical equipment

Not long ago, the 22nd Session of the Standing Committee of the 12th National People's Congress considered and approved the Amendments to the Tariff Reduction Form of the People's Republic of China's Accession to the World Trade Organization. In the near future, my country will begin to gradually reduce and eventually eliminate tariffs on 201 information technology products imported from members of the World Trade Organization.
It is worth mentioning that many of the new medical devices included are mid- to high-end products, including pacemakers, electrostatography recorders, X-ray fault scanners, MRI devices, ultrasound scanning equipment, ophthalmology, surgery, oral equipment and other medical devices and components. Import tariffs on most products will be reduced to zero over three or five years, and import tariffs on small quantities will be reduced to zero over seven years.
on the impact of import tariff reduction industry, Shenzhen Medical Devices Industry Association Assistant Secretary-General Jia Yi predicted: "The market share of imported medical devices will grow, the people will enjoy better medical security." But he also reminded that domestic medical devices will face greater challenges, in science and technology, quality, innovation and other aspects, all require domestic enterprises to do better. Because most of the imported medical devices are concentrated in the high-end, high-tech field, this is the weakness of domestic medical devices, rather than how to deal with, it is better to down-to-earth, integration of resources, catch up.according to theTax Reduction Benefits
Medical Device Innovation Network, China formally acceded to the Information Technology Agreement in 2003 and has become the world's largest producer and exporter of information technology products, the second largest importer, and an important participant in the global value chain of information technology products.
, what impact will the tax cut have on the medical device industry? Some experts pointed out: "it will help to expand the export of equipment products, but also help to reduce the import costs of related components and equipment." At the same time, the cost of domestic use of imported medical device products will also fall. "
, at the export end, excess capacity at the lower and middle ends will be eased." The implementation of zero tariffs will maximize the release of domestic medical equipment production capacity, domestic medical equipment cost-effective or will reshape the world's medical device product pattern. On the import side, the import of the core components required for high-end medical equipment is resolved. Finally, we will realize the upgrading of the high-end design and manufacture of domestic medical equipment, and truly realize the rise of domestic medical equipment.differences in import and export structure are obvious
but the other side of the gradual reduction and eventual elimination of tariffs means that foreign medical device giants also have a price advantage, or will further impact the domestic medical device market.
china's total medical device trade reached 38.489 billion U.S. dollars in 2015, according to Chinese customs data. Among them, exports amounted to US$21.170 billion, up 5.73% YoY, up 2.17% YoY, while imports amounted to US$17.319 billion, up 9.81% YoY and up 4.49 percentage points YoY.
2015, China imported more than 100 million U.S. dollars of medical device products have 43 varieties. Among them, universal diagnostic equipment, color ultrasonic diagnostic instrument, rehabilitation equipment to compensate for physiological defects, X-ray fault detector, endoscope, MRI device as the main imported products.
china's medical device products exports of more than 100 million U.S. dollars of products have 48, exports of more than 10 million U.S. dollars of products have 93. Among them, the export volume of hearing meters and medical disinfectant products increased by more than three figures year-on-year.
Comparing the types of medical import and export products in 2015, imported products are mainly middle and high-end medical devices, such as color super, X-ray machines, etc., while export products are some basic health care products, such as disinfectants, high-end medical equipment exports are very few.
" the main reason for the difference in the structure of medical device products import and export is that China's high-end medical products technology and research and development and developed countries still have a gap, while the status quo of China's medical device enterprises is generally small, weak. "The 2016-2022 China Medical Device Market Competition situation and market outlook forecast report released by Zhi Research Consulting is an analysis.
To this, industry experts suggest that in the process of competition with foreign enterprises, local enterprises both lack of core technology and brand reputation, in terms of capital and staffing is also insufficient, which requires the national policy level to promote the integration of the medical device industry, cultivate several strong enterprises to focus human and financial research and development of medical device products of the same level as developed countries, improve product structure. (Medical Economics)