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CPIC launches senior care investment firm in Shanghai FTZ
Online Edition
CHINA Pacific Insurance Group Co, China’s third largest insurer, has set up a senior care industry investment company in Shanghai’s pilot free trade zone to enrich the insurer’s business with advanced policies in the zone.
The investment company, completing registration in the zone on September 25, will be involved in investment, construction, and operation of senior care projects, CPIC said in a statement today.
It will also handle health care and medical investment businesses related to the senior care projects.
The company said the more flexible foreign exchange regulations in Shanghai’s free trade zone will facilitate introducing investment, talent, and facilities from overseas.
Foreign investment companies are also allowed to carry out a wide variety of senior care services in the zone, making the company easier to find foreign partners or acquisition opportunities.
The company’s first project will start early next year to reconstruct CPIC’s former training center in Xuhui District into a senior care facility.
Starting with a focus on Shanghai, the investment company said it expects to expand from the costal area to major cities nationwide within five years.
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