Global Cord Blood: NHC Will Not Accept New Applications For Cord Blood Banking Licenses In 2021

(RTTNews) - Global Cord Blood Corp. (CO), an umbilical cord blood banking operator in China, said Tuesday that China's National Health Commission or NHC has issued a new policy stating that no applications for cord blood banking licenses in China will be accepted in 2021.

The new policy was announced by the NHC's General Office on December 30, 2020. The decision not to accept cord blood banking licenses was made in order to improve public health and medical safety, and for the authorities to refine cord blood banking related policies, monitoring processes, and enforcement measures.

Global Cord Blood is a China-based provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services.

The company currently has three existing cord blood banking licenses in China which cover Beijing municipality, Guangdong province and Zhejiang province.