By Fineline Cube 
Yangzi State‑Owned Investment Group (JSIG) and Singapore‑based Perennial Real Estate Holdings Limited (Perennial Group) signed a strategic cooperation memorandum to establish a wholly foreign‑owned, comprehensive Level‑III General Hospital in Nanjing, Jiangsu Province.
This project marks the first such facility in Jiangsu and follows the national pilot program rolled out at the end of 2024 that expands openness in the wholly foreign‑owned (WFO) hospital sector. The pilot allows WFO hospitals to be set up in nine provinces and municipalities, including Beijing, Tianjin, and Shanghai.
Milestones in the Expansion of WFO Hospitals
| Date | Event | Significance |
|---|---|---|
| Dec 16, 2024 | Perennial General Hospital Tianjin passes the inspection and evaluation by the Tianjin Health Commission, receiving a Medical Institution Practice Licence. | China’s first wholly foreign‑owned Level‑III General Hospital. |
| Feb 2025 | Guangdong Provincial Health Commission approves the establishment of Guangzhou Baiyun Perennial Hospital. | Second WFO Level‑III hospital in a major provincial hub. |
| Oct 28, 2025 | JSIG & Perennial Group sign the cooperation agreement for Nanjing hospital. | First WFO Level‑III hospital launched in Jiangsu Province. |
Strategic Implications for the Chinese Healthcare Landscape
- Regulatory Breakthrough – China’s 2024 pilot loosens previous limits, inviting foreign capital, technology, and management expertise into the domestic hospital space.
- Competitive Edge – The Nanjing facility will integrate Perennial Group’s international standards with Jiangsu’s robust talent pool, potentially setting new benchmarks for clinical quality and efficiency.
- Economic Impact – The project is expected to generate thousands of jobs, stimulate the local economy, and attract downstream medical‑device and pharmaceutical companies seeking proximity to a state‑of‑the‑art, fully compliant hospital.
What to Watch
- Construction Timeline – Key milestones for the facility’s completion and opening dates.
- Financing Structure – Details of capital allocation, ownership stakes, and any public‑private partnership arrangements.
- Clinical Partnerships – Expected collaborations with universities, research institutes, and international hospitals.-Fineline Info & Tech