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South China Morning Post
04-08-2025
- Health
- South China Morning Post
China's Hainan eyes medical tourism boom after South Korea axes cosmetic surgery tax perks
China's tropical island province of Hainan is accelerating its push to become a leading medical tourism hub , aiming to attract more nationals to use local healthcare services instead of seeking treatment abroad – after South Korea announced plans to scrap tax rebates for foreigners undergoing cosmetic surgery. The popular tourist destination in southern China plans to draw more than 1.5 million domestic medical tourists annually by 2027, up from the current level of over 400,000, according to a local government document issued on Monday. Hainan has also pledged to reverse the outflow of overseas medical consumption. It aims to approve two to four real-world research pilot products for domestic market entry each year and introduce at least 40 international innovative drugs and medical devices annually. In the first quarter of 2025, institutions in Hainan's special medical tourism zone welcomed 111,500 visitors seeking treatment, up 29.8 per cent year on year, the state-owned People's Daily reported last month. The use of licensed drugs and medical devices reached 16,000 people during the same period – a 44.14 per cent rise from a year earlier, according to the report. The push came as South Korea – a top competitor in medical tourism – risks losing its appeal due to a policy change announced on July 31. The new regulation, which takes effect next year, will remove value-added tax refunds for foreign tourists using medical beauty services.
Yahoo
29-07-2025
- Business
- Yahoo
U.S. and China Extend Tariff Pause Another 90 Days
Ahead of trade talks in Stockholm that are set to begin today, The South China Morning Post reports that, according to sources close to the matter on both sides, the US and China are set to extend their tariff truced by another three months. China and the United States agreed in May to remove most of the heavy tariffs levied on each other's goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12. SCMP reports that one source said that, during the expected 90-day extension, the two nations will commit to not impose additional tariffs on each other, nor escalate the trade war by other means. People's Daily, the mouthpiece of China's ruling Communist Party, said in an editorial on Sunday that Beijing was willing to work with Washington to make "substantive progress" in resolving issues during the coming trade talks in the Swedish capital. the newspaper said. "It is willing to work with the US to take the economic and trade talks in Sweden as an opportunity to continuously enhance consensus, accumulate mutual trust, reduce misjudgments and strengthen cooperation." While analysts have welcomed the continuation of discussions, most do not expect any sweeping changes to emerge from the negotiations in Stockholm. Niklas Swanstrom, director of the Institute for Security and Development Policy, a think tank based in Stockholm, said ahead of the talks. By More Top Reads From this article on
