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China encourages foreign investment in senior care

07-01-2013 20:23 BJT

China’s Ministry of Civil Affairs has issued a new regulation on senior care centers. The regulation clarifies rules for foreigners wishing to start their own centers in the country.

Lowered requirements to enter the country’s senior care industry.

The new regulation says that senior care homes should have more than 10 beds.

It also states explicitly, for the first time, that foreign organizations and individuals can open senior care centers in the country, with or without a Chinese partner.

Within the next two years, the government is hoping to ensure that at least 30 beds are available for every thousand men over 60, in senior care institutions. With China’s over 60 population set to hit 221 million, that goal requires 6.6 million beds, that means finding 2.7 million more beds in two years. This huge number represents a huge market opportunity for private enterprise and investors.

So far, there’s only a handful of foreign entrants to China’s senior care industry.

One of them is Senior Living L’Amore-Kaijian, a facility to be opened this month in southeast Beijing.

It’s operated by Beijing Yuanjian Senior Care, a joint venture between a Chinese and an American company.

"The Sino-Ocean Land is a local business that understand the construction, understands the market, and has the ability to do government relationships, and has a location in villas and residential area, and very conducive for sb. to move into a facility like this."said Aruna Poddatoori, Chief Operating Officer of Beijing Yuanjian Senior Care CO.Ltd

The facility will charge between 15,000 to 25,000 yuan a month per resident.

The manager says it’s targeted at senior citizens who want a high-quality life.

Earlier in January, the American company involved in the joint venture set up a similar senior care project in Shanghai.

The operating consultant says investors hoping to break into China’s senior care market need time and patience.




Editor:James |Source:

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