On May 26, Guangzhou Metro Group and Singapore-headquartered Perennial Holdings Private Limited officially signed a 105,000-square-meter lease agreement. This agreement confirmed the location of South China's first wholly foreign-owned tertiary general hospital - Perennial International Hospital - in the southeast tower of Yue Sheng Plaza, a TOD (Transit-Oriented Development) project developed by Guangzhou Metro at Guangzhou Baiyun Railway Station.
Perennial Holdings is set to invest 5 billion yuan ($691.4 million) to develop a 1.18 square kilometer Greater Bay Area Baiyun International Healthcare and Wellness City. This ambitious project aims to become a leading international healthcare service hub that expects to serve Southeast Asia throughout its life cycle.
The initial phase of this project involves a 1-billion-yuan investment to establish the Perennial International Hospital, which is poised to become the first newly established wholly foreign-owned hospital in South China, following a pilot work plan issued in November 2024 by the National Health Commission (NHC) and three other government departments allowing the establishment of wholly foreign-owned hospitals in 9 Chinese cities, in a move to further open up China's medical sector.
This is the first cooperative project implemented following the Guangzhou-Singapore Economic and Trade Conference held on April 2, 2025. The project went from signed agreement to implementation in just 54 days. Multiple government departments of Guangzhou have coordinated to open a green channel for the approval process of the foreign-owned hospital, significantly enhancing administrative efficiency.
