On 19th to 21st September 2006, the 2006 International Cooperation Summit for Asia-Pacific CEOs and Provincial Governors and Mayors was held by APCEO Association and Wuxi Municipal Government in the city of Wuxi. Mr. Michael Chermak, CEO of Bridgetech Holding Interaitonal Inc. make a speech on the summit.
Distinguished guests, ladies and gentlemen:

Thank you for giving me this opportunity to make a speech here. This is a very happy journey. Wuxi is a very beautiful city. My topic today concerns the medicare market in China and the role our company plays.

China has made great achievement in recent years, which few countries in the world can match. You have a good central government as well as local governments and the support of experts. All of these promoted the transfer in a large scale. The current medicare market in China takes only a small percent of its GDP, about 5%, compared with 14% in the U.S.A. and 10% in Europe. In 2001, China was the fourth or the fifth largest medicare market in the world. At present, China is developing very rapidly. The first reason is China has more and more aged people. Our focus is on cancer research. China has the highest incidence of cancer. The reasons are you have many old people; 300 million smokers and some people don’t have much physical exercises. In the long run, this will have much negative effect. We believe China has a huge potential market. And we are very passionate to develop business in China. We would like to establish good relationship with Chinese government and appreciate
Chinese culture tradition. Looking back into Chinese history, we know that China had been the center of international trade for 1000 years. At that time China conducted foreign trade with many countries. Our focus is on medicare and health. Our most important business is introducing technology and diagnosis

Many people are afflicted by cancer. Last July, one of our leaders died of the disease. We want to create the most value for our shareholders and solve some social problems here instead of only making profit. We want to introduce some age-proof medicine and diagnosis into China. China boasts abundant natural resources. You are bound to make major breakthrough in medicare. I believe we will contribute more to the society if we could work concertedly in this field. Last we held a project with a Chinese medical association, cooperating with Chinese leaders, researchers and surgeons. We will meet many challenges here, and government interference would be one of them.

We have made big progress in supply chain. But we still have some difference in culture. We can't transfer European model directly into China. We will introduce the most advanced technology into China. We have set up an office in Beijing and established cooperation with Hong Kong University which will provide a good environment for our clinic. We have also given full consideration to different areas.

Last but not the least, we have to do something in education. We have established a non-profit organization. It is a non-profit website. We have cooperated with other non-profit organizations in China. We have a translation center in China, providing language service. Thank you very much inviting me to this conference. Thank you!