New investment sector
Print Edition
CHINA is encouraging foreign investment in the country’s elderly care services, according to a circular posted on the official website of the Ministry of Civil Affairs yesterday.
Foreign investors can set up profitable senior care institutes independently or in cooperation with Chinese enterprises, said the circular, jointly issued by the ministry and the Ministry of Commerce.
To set up elderly care centers, foreign investors should submit application materials to provincial-level commercial affairs bodies, it said.
Foreign investors are welcome to take part in the reform of state-run elderly care bodies and to develop high-quality chain institutes, it added.
Foreign investors will enjoy the same favorable policies on tax and administration fee deduction, the circular said.
At the end of 2013, those aged 60 or above hit 202 million, or 15 percent of the population, and may exceed 300 million by 2025.
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