A press conference on Hainan FTP construction is held on June 3 in Haikou. [Photo/Hainan Daily]

Through the use of assorted institutional innovations, Boao Hope City, also known as the Boao Lecheng International Medical and Tourism Pilot Zone, has made remarkable headway in improving its business environment recently, solving various "bottleneck" problems.

These comments were made by Liu Zhefeng, deputy head of the Boao Hope City Administration, at a press conference on Hainan Free Trade Port construction held in Haikou, the capital of Hainan, on June 3.

According to Liu, Boao Hope City has been fully promoting clinical real-world data research and has attracted the presence of more than 60 leading global pharmaceutical companies. Its clinical real-world research is a major institutional innovation of the Hainan FTP, and it can reduce the time and cost needed for global innovative medical devices to enter the Chinese market.

In addition, a "never ending" international innovative medicine and equipment exhibition was launched in Boao Hope City, which speeds up the supply-side structural reform of the medical and healthcare sectors. Now, medical institutions and patients have more choice of medication. There are nearly 140 innovative medical devices that have not yet been marketed in China but are accessible in Boao Hope City.

Boao Hope City also seeks to deepen its shared medical resources innovation model and accelerate the gathering of high-quality medical resources from around the world. It has launched the first special drug insurance scheme in China to reduce the burden of medication on patients with serious illnesses, and explored a new "medical insurance plus commercial insurance" mechanism.

In addition, reforms to simplify government review procedures were also deepened, through concerted efforts by the Hainan Provincial Health Commission, the Hainan Provincial Food and Drug Administration and Haikou Customs. The time limit for the approval of licensed medical devices has been reduced from 27 days to three to seven days in Boao Hope City.

Boao Hope City has also seen the establishment of a full-process traceability platform for imported licensed medical devices in China, which seeks to ensure no incidents of drug abuse occur.