Innovations take center stage at 2025 China Medical Equipment Conference

China

Innovations take center stage at 2025 China Medical Equipment Conference

2025-03-19 00:52 Last Updated At：04:17

The 2025 China Medical Equipment Conference showcased a surge in innovative domestic products and technologies, highlighting the rapid progress of China's medical equipment industry and the growing role of AI in healthcare.

The conference, held in southwest China's Chongqing last week, featured over 10,000 new products, technologies, and applications across 34 specialized exhibition zones.

According to the China Association of Medical Equipment, the sector's market size reached 1.35 trillion yuan in 2024, up 6 percent year-on-year. China exported over 79 billion dollars worth of medical equipment, with over 30 percent going to countries joining the Belt and Road Initiative.

Industry leaders and experts attending the conference highlighted the progress of domestically developed medical equipment and AI-driven medical technologies. They emphasized how these innovations are improving healthcare by increasing precision, convenience, and affordability.

Li Zhiyong, vice chairman of the China Association of Medical Equipment, said after participating in the event that those new technologies and products not only reflect the rapid growth of the industry but also provide strong support for public healthcare needs.

"I think this year's exhibition has shown a marked increase in innovative products compared to previous years. The exhibition area this year is 70,000 square meters, an increase of 10,000 square meters over last year. We had 517 innovative products last year, and this year that number has risen to 615," said Li.

Experts also stressed the role of AI in the industry, as it powers next-generation medical equipment for more precise and efficient treatment.

"Domestically produced medical equipment in our country has seen rapid development and significant localization advancements. Technologies such as photon CT and 5T MRI are now leading globally. Furthermore, the integration of AI with medical equipment is a key area of progress," said Fang Jiancheng, an academician at the Chinese Academy of Sciences and director of the Academic Committee at Beihang University.

"By incorporating AI into medical equipment, we can diagnose conditions earlier and provide more precise treatments. This integration also reduces medical costs and notably improves both safety and treatment effectiveness," said Liao Zhengbu, chief physician of the First Affiliated Hospital of Chongqing Medical University.

U.S. May CPI rises to highest level since May 2023

The U.S. consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data released by the U.S. Bureau of Labor Statistics on Wednesday.

Notably, the energy index for May increased 3.9 percent month on month, accounting for over 60 percent of headline inflation.

Gasoline and fuel oil prices increased 40.5 percent and 58.9 percent year on year, respectively, in May.

The national average price of gasoline reached 4.555 U.S. dollars per gallon on May 20, a 50 percent rise since the Iran conflict started in February, according to data released by the American Automobile Association. The price later eased to 4.151 dollars per gallon on Wednesday.

The core CPI, which excludes volatile food and energy prices, increased 2.9 percent year on year in May.

Statistics show that U.S. headline CPI for May rose 0.5 percent month on month, down from 0.6 percent in April, while core CPI increased 0.2 percent, compared with a 0.4 percent gain in April and below the market consensus forecast of 0.3 percent.

The report arrives at a critical juncture for markets and Federal Reserve policymakers. While the rate-setting Federal Open Market Committee is widely expected to hold interest rates steady at its June 17 meeting, policymakers acknowledged that the inflation surge caused by the Iran conflict will likely delay any rate reduction. The data are likely to reinforce this stance.

Oil prices rose while U.S. stocks traded lower in the morning session on Wednesday after U.S. President Donald Trump posted on Truth Social that Iran has "taken too long to negotiate a deal" and will "have to pay the price."