Siemens Healthineers Largely Unaffected by China's New Import Restrictions

Siemens Healthineers says it remains largely untouched by China's recently introduced restrictions on imports of medical technology.

The Erlangen-based medical technology group manufactures all major equipment for the Chinese market--including CT scanners, MRI machines, and molecular imaging instruments--within China itself, a spokesperson for the Siemens medical technology subsidiary said on Monday in Erlangen. "Therefore, we do not expect the current developments to have any material impact on our business," the spokesperson added.

Siemens Healthineers generates around eleven percent of its revenue in China and employs 7,000 people across six production and development sites in the country. However, government measures aimed at curbing corruption in the healthcare sector have significantly slowed incoming orders.

On Sunday, China imposed import restrictions on medical technology products from the European Union. These restrictions apply to all devices and instruments valued at over 45 million yuan (5.3 million euros). Additionally, China is limiting the import of medical technology from other countries if more than 50 percent of the contract value consists of components manufactured in the EU. Products from European companies produced within China are exempt from these measures. China's move comes in response to an EU Commission investigation into public tenders for medical technology in China. The competition authorities are examining whether European suppliers are being granted fair access. As a result of the investigation, Chinese companies could face restrictions when participating in EU tenders.

The announcement temporarily pressured shares of Siemens Healthineers, Carl Zeiss Meditec, and Drägerwerk on Monday.

(Reporting by Alexander Hübner. For inquiries, please contact our editorial team at [e-mail] (for politics and economics) or [e-mail] (for companies and markets).)