Foreign medical imports to increase at fast pace: Report

China's import of medical products will continue to increase at a fast pace over the next 10 years, driven by strong domestic demand, according to a report released on Wednesday during the first China International Import Expo held in Shanghai.

Total import of medical and healthcare products in China exceeded $116 billion last year, an increase of more than 12 percent over the previous year, according to the report, released by the China Chamber of Commerce for Import and Export of Medicine and Health Products.

Of those imports, the value reached nearly $56 billion, an increase of more than 16 percent year-on-year, the report said.

"With implementation of the Health China strategy, consumption and import of medical products in China has seen a fast increase," Meng Dongping, vice-president of the chamber, said at a news conference.

"We predict China's health industry will enter a golden period over the next 10 years and see fast growth, which will provide precious business opportunities for enterprises from both China and abroad."

Medical and healthcare products are a major part of the exhibition at the ongoing CIIE, with 320 enterprises from 51 countries and regions attending the expo, according to the chamber.

Meng said last year pharmaceuticals were a major type of import among medical products imported by China last year, which were valued at $34 billion.

China imported pharmaceuticals from 96 countries and regions last year, but most of the sources were Europe, the United States and Japan, Meng said.

Most of the pharmaceuticals China imported are patent drugs, which can effectively improve domestic supply and meet the demand of patients, she said.