By: Alex Mcmillan for the New York Times
Beijing wants to encourage investment in health care services. China's largest property developer is setting aside 24,000 square meters for active senionrs to test whether this this rapid aging nation will pay for western style living. Since China reclassified the sector as permitted rather than restricted , overseas companies can own 100% of an operation in China. New York based hedge fund Fortress Investment Group and China Senior Care backed U.S developer Lerner Enterprises, are also investing into elder care facilities. Pricing is set to be at $6,300 a month which puts it in the reach of the wealthy in China. Although the market is vast cultural barriers persist. Filiel Piety is very dominant in Chinese culture so the idea of sending family to the nursing homes is almost unheard of but since so many citizens were born in the era of one child policy, investors think that profit will explode because of the idea of a single citizen taking care of 4 grandparents alone and married couples taking care of 8 grandparents. I think due to globalization and foreign investment, China may lose its unique culture in caring for the elderly and the western idea of nursing homes and independent senior living will influence family structures and systems in China.
http://www.nytimes.com/2012/10/02/business/global/old-age-in-china-is-a-fledgling-business-opportunity.html?pagewanted=all&_r=0
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