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People's Daily Online>>China Society

Aging nation creates nursing home boom (5)

By Tania Lee (China Daily)

08:20, December 05, 2011

Foreign investors

"In urban China, it's fairly safe to say that the private sector makes up the majority of all facilities in most major cities, and that the private sector has dominated the rapid growth in the last decade," said Feng.

"To my knowledge, there are very few privately run facilities in rural areas," he added.

Many interested parties have come from Europe and the US, but the predominant investment focus has come from Hong Kong, Taiwan, Singapore and Japan.

"Some Western companies have been seeking entry to China's growing market for care for the elderly since the early 1990s but few, if any, have been successful to date," said Feng.

Lane said a lack of government funding and, until recently, minimal government oversight because of the absence of a formalized regulatory structure, have discouraged many would-be investors and professionals from seeking his company's advice. This is another reason why the sector is still in its infancy, according to Lane.

However, now ThomsonAdsett is able to utilize the preferential policies for the sector and has been working on a number of large and responsible government and commercial interests in China who are genuinely seeking to provide quality facilities.

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helen at 2011-12-05203.82.94.*
Singapore, being a sovereign city State provides many guidelines in looking after aged parents by law and control of nursing homes for the old people. Profiteers exploiting nursing homes are quite common in Hong Kong and other parts of the World. Shortchanging these homes must be punished severely and laws introduced to safeguard the health, safety, security ...of the old people. Where money is involved, criminals will rear their ugly heads ...
  

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