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Shenzhen to open elderly service to investors

2017-12-01

SHENZHEN is facing a shortage of elderly care services as the population ages. Now the government is planning to open up the elderly care industry to private investors in a bid to increase the supply of services.

The city's civil affairs bureau has published draft measures on the opening of services on its website, and invited the public to give their opinions. According to the draft, the government will simplify the approval process for setting up homes for senior residents.

Under the draft measures, the government would grant a license within 20 days if applicants satisfy the legal requirements.

The threshold for opening an elderly care institution will also be lowered. The district civil affairs bureau will have the power to grant a license after such an institution is registered with the industrial and commercial administration bureau.

The new measures encourage foreign investors to establish senior living homes. In addition, nonprofit elderly care institutions set up by foreign investors will enjoy the same preferential policies as those established by domestic investors.

The draft also envisages joint ventures between the government and private investors, and the government outsourcing services from privately owned elderly care institutions.

New housing estates will be required to provide no less than 750 square meters of care facilities for the elderly.

Source:Shenzhen Daily

 
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