China just minted a new billionaire amid pandemic health measures

by more than 3,500 times among retail investors and raised $1.6 billion. It was also China's third-largest offering this year.

More than two years after the COVID-19 pandemic began, China is still on heightened alert over the coronavirus. To boost healthcare facilities and capabilities, authorities have published guidelines, including a list of essential equipment hospitals should have. It includesThe company is also seen as a defensive, safe-haven play amid China's economic uncertainties.noted that Chinese brokerages have given favorable assessments for the company's prospects.

Born in the province of Hubei, the 65-year-old Xue founded the predecessor to Shanghai United Imaging Healthcare in 2011 and raised $500 million in an investment round in 2017, per Bloomberg.Subscribe to push notifications

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