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Senior care sector open to foreign investors

FOREIGN investment is allowed and encouraged to enter the senior care industry as Shanghai's population is rapidly aging, officials said today.
Pudong New Area will be the first to allow foreign-funded senior service companies. Previous requirements on qualification, experience and funding may be abolished in the pilot program.
Officials said the pilot program will gather experiences in order to formulate business codes for the large-scale promotion in the city in the future.
Shanghai plans to gradually change elderly care services from a government undertaking into a market-oriented business to meet the needs of the city's growing number of elderly residents.
There are few high-end senior care providers in Shanghai. Most elderly folks rely on domestic helpers or old-age nursing homes run by the government and non-profit organizations.


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