China's Covid wave drives up consumer interest in insurance after health system shortfalls

Key Points

• Chinese consumers prioritize their health, especially insurance, much more after the pandemic, an Oliver Wyman survey found.
• December's Covid wave revealed the gap between China's public health system and the country's global economic heft as second only to the U.S.
• Extreme pressure on public hospitals including lack of capacity drove many new patients for Covid and non-Covid care to facilities operated by United Family Healthcare in China, said CEO and founder Roberta Lipson.

Chuiyangliu hospital, pictured in January 2023 in Beijing, in the last few years finished renovations that allowed for a six-fold increase in daily patents to 5,000 a day, according to official estimates.

Yin Hon Chow | CNBC

BEIJING At the top of the shopping list for anyone in their late 20s or older in China is health, sports and wellness. That's according to an Oliver Wyman survey late last year, as China finally started to end its Covid controls.

For people planning to spend more on that health category, 47% said in December they intend to spend more on health insurance. That's up from 32% in October, the report said.