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China Spends 6 Trillion Yuan on Medical Services From 2013 to 2017

Average annual increase of 11.7 percent says Finance Minister Liu Kun.

The Chinese government spent 5.95 trillion yuan (about US$862 billion) on medical services from 2013 to 2017, with an average annual increase of 11.7 percent, according to a report submitted to the top legislature.

Finance Minister Liu Kun made the report at the bi-monthly session of the Standing Committee of the National People’s Congress on 24 December 2018.

China’s fiscal spending on medical services in 2017 was 1.4 trillion yuan, a 55.5-percent increase from 2013, accounting for 7.1 percent of national fiscal spending.

The report also noted that China’s fiscal budget for medical services in 2018 was 1.5 trillion yuan. The spending on subsidies for medical insurance registered an average annual growth of 10.6 percent from 2013 to 2017.

The number of China’s medical institutions increased by 12,000 to 987,000 from 2013 to 2017, and over 84 percent of Chinese people live less than 15 minutes away from medical institutions.

The average life expectancy of Chinese people increased to 76.7 years in 2017 from 74.8 years in 2010.

The Ministry of Finance will cooperate with the National Health Commission and other departments to improve the efficiency of medical funds and provide better medical services for the impoverished, Liu said. [APBN]

Source: Xinhua