In 1949 one of the world’s most powerful and influential countries was born: The People’s Republic of China. Perhaps the greatest challenge the country has consistently faced since its inception has been ensuring a fiscally sound healthcare system. Today, China has the world’s largest population and a rapidly aging society with 330 million citizens over the age of 65 projected by 2050- nearly the same size as the total U.S. population. Living standards across China have been drastically increasing in recent decades and the Chinese people are desiring better, higher quality healthcare to complement their new lifestyles. With this desire comes China’s unique challenge of scale - operating the world’s largest healthcare system for 1.4 billion people. This paper introduces the historical perspective and background of China’s healthcare system, the major phases of reforms, how successful those reforms have been, and finally explores the financial impact China’s healthcare system has had around the globe.

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