A New Year Gift
The Second China International Import Expo held in Shanghai in November 2019 offered diabetes patients a wide array of treatment products. They ranged from tiny insulin injection needles from Japan to blood glucose monitors using biosensors, an innovation by health and wellness company Sinocare, headquartered in Changsha, Hunan Province in central China.
Huang Guoan, chief financial officer of Sinocare, said supportive government policies for private firms, including tax cuts, had helped the company innovate.
“Value-added tax cuts saved around 7 million yuan ($1 million) for Sinocare in 2019, which allowed us to invest more in technological research and development,” Huang told Chinanews.com.
In 2019, China’s business environment saw remarkable improvements, boosting the private sector. The year’s Global 500 list had 129 Chinese companies, of which
