China is planning to ease the approval processes for overseas aged care companies in an effort to attract more investment, according to a statement released by its State Council last month.
The country only opened up the industry to private investors in 2014 to allow some foreign investment under strict conditions.
China’s over-80 population is predicted to increase to 90 million, making it the largest elderly population in the world. Despite this, its aged care sector is still relatively undeveloped.
The Chinese Government has stated its aim to change this, with plans to provide 35 to 40 aged care beds per 1,000 elderly people (our ratio is around 80) and a workforce of 10 million aged care workers by 2020.
Image credit: Ansell Strategic.
