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Why high medical bills are bringing pain to China’s economy

The cost of paying for ‘catastrophic’ health conditions discourages consumption despite improvements in treatment
王金辰的养老金不够负担他的透析治疗费用 © Gilles Sabrie/FT

Wang Jinchen apologises for not standing up to greet visitors to his freezing bedroom in Mashihaiwang village in China’s central Hubei province.

Tucked under a tattered quilt, the 70-year-old farmer — who is wasting away from uremia, a condition caused by kidney failure — embodies a problem that is prevalent across China, and that has far-reaching implications for efforts to boost growth in the world’s second-largest economy.

Wang’s family and millions like them are suffering from “catastrophic health expenditure” — medical costs that have devastated their household finances.

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