Private equity heads for healthcare firms at 4 sites

Domestic private equity firm China Science and Merchants Capital Management Ltd will invest at least 30 billion yuan ($4.8 billion) in the nation's health industry within five years, its chairman said.

The funds will go into companies in industrial bases in Tianjin, Shanghai, Guangzhou and Huzhou in Zhejiang province that were set up by CSM Group and local governments.

"The supply of healthcare products and equipment in China can't satisfy the huge demand of the public, so there are many investment opportunities," said Shan Xiangshuang, chairman of CSM Group.