An impending aging boom and lack of long-term care options has China looking West to address the growing needs its massive senior population will require in the coming years, Bloomberg News reports.
Shifts in economics and life expectancy, on top of the country’s one-child policy, has left China with a flood of seniors unable to live alone as many children have left their parents’ homes to work or study in urban areas.
To provide supportive services for its infirm elderly, China’s Premier Li Keqiang said earlier this month that the country will “cut red tape and costs to spur foreign investment into the type of privately funded care that is common in the West,” Bloomberg writes.
Providing such “Western” care service is a time sensitive affair, especially for a country with a massive aging population that is unprepared to offer even the minimal standard of care to all of its senior citizens.
China is already making headway into providing senior living options for its aging population with some Western aide.
Recently, Chinese developer Sino-Ocean Land opened a second senior housing community in China called Senior Living L’Amore—Kaijan. Backed by Seattle-based Emeritus Corporation, the community offers luxury residential housing for seniors in the Yizhuang area of Beijing.
Read the Bloomberg News article.
Written by Jason Oliva
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