Ruzhou, a city of 1 million people in central China, urgently needed a new hospital, their bosses said. Local officials have long used big spending to keep the economy growing. In a May memo that was reviewed by the Times, local officials urged hospital managers to help support a local investment fund that was selling bonds. “We encourage managers and staff of local hospitals to buy the above-mentioned convertible bonds to support the construction of their own hospitals,” the memo said. Zhang Yuhang, director of Ruzhou Hospital of Traditional Chinese Medicine, denied that the fundraising had ever been mandatory and blamed the hospital itself for misreading government policy.

Source: bd News24 November 11, 2019 02:31 UTC