This week, AusBiotech launched their ‘Guide for Australian medical technology companies seeking to engage in China’ (The China Guide). The Guide is intended for small to mid-sized Australian medical technology companies, including medical devices and diagnostics, looking to engage with and in China. It aims to help break down barriers to working in China for Australian companies as part of a larger project ‘Australian Medical Devices & Diagnostics to China.’
The Australian medical technology industry contains approximately 500 to 800 companies seeking overseas opportunities, particularly in Asia. China is a key focus for a large number of these companies, the majority of whom are small enterprises with less than $2 million in turnover annually and limited capability to assess overseas markets on their own.
The initial purpose of the Guide was to educate these companies about the intellectual property management landscape in China and outline the various business structures available to Australian companies. During the research period for the Guide, the focus broadened to including information on business, cultural, and regulatory context, as well as other information medical technology companies may consider while developing a strategy for operating in or with China.