China encouraging foreign investment in elderly care services

BEIJING - A circular published on China’s Ministry of Civil Affairs’ (MCA) official website encourages foreign investment in the country’s elderly care services, as the issue of an aging population becomes more and more of a reality. According to the circular, foreign investors can set up senior care institutes for profit independently or in co-operation with Chinese enterprises.

Before setting up elderly care centres, the circular said, foreign investors should submit their application to provincial-level organisations in charge of commercial offers.
The circular (which was jointly released by the MCA and Ministry of Commerce) invites foreign investors to take part in the reform of State-run elderly care organisations, as well as develop high-quality chain institutes.
An aging population is perhaps one of China’s most urgent socio-economic trends: It is estimated that more than a quarter of the nation’s population will be over 65 years old by the year 2050. www.webershandwick.cn (ATI).