Another sector of the Chinese economy opens the way for private enterprise after decades of state monopoly.

It is in fact a few days ago new the approval of the first step in a reform that will, once approved, fully open the market of assistance to the elderly people and promote access to private capital.

It is therefore expected that in the coming years will be spiraling numbers on the private initiative in the framework of projects implementation and management of homes for the elderly, already tested phenomenon in the US and Europe, and that grows by the increase in the elderly population.

The reform, strongly supported by President Xi Jinping, will improve the quality of service, which is currently under state jurisdiction, with the aim to reform the institutions of care for the elderly and increase the quality of service in rural areas.

According to international standards, a country is considered in the process of aging when the number of people over the age of 60 years reaches 10 percent of the population. China in 1999 showed more than 10 percent of the population over 60 years of age, while at the end of 2015 there were 222 million people over the age of 60, accounting for 16.1 percent of the total population.

In other words, a trend that promises to make the industry one of the most profitable in the field of health care, with enormous business opportunities for sectors related to it. According to a report published by the CNCA (China National Committee on Ageing), the Chinese will spend about 5 billion yuan to care for the elderly by 2050.

For more information: asiandesk@blblex.it