China Aged Care Service Industry Report, 2011
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May/2011
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As of the end of 2010, the total population of China hit 1.34 billion, among which, 180 million people were at or above 60 years old, with the proportion of 13.3%; 120 million people were at or above 65 years old, with the proportion of 8.9%. In terms of the residence for the aged people, aged care service consists of home-based care service and institution-based care service. The former has long been the major model of aged care service in China. However, with the sharp surge in the income and savings of the Chinese citizens, more and more aged people prefer institution-based care service.
The institution-based aged care service in China is mainly composed of non-profit public organizations (such as old people’s home and social welfare institute), apartment for the aged and healthcare institutions for the aged. Presently, old people’ homes and social welfare institutes are mainly run by the government, while home care centers for the senior are mainly privately-owned in China. As of the end of 2009, China had a total of 38,060 aged care institutions with 2.662 million beds, which was far from meeting the domestic demand. Measured by the international standard, China faces a shortage of 5.688 million aged care beds. In addition, there is limited number of hospitals specializing in the healthcare service for the senior or general hospitals with department of geriatrics in China, and China’s medical institutions for the senior are in their infancy.
According to the statistics released by China National Committee on Ageing, among urban senior citizens in China, about 6%-8% tend to live in aged care institutions like home care centers for the aged. But old people with high-and medium-level income are less likely to live with their children. Before 2020, the total capital for the Chinese retirees to purchase residences is expected to hit RMB2.8 trillion. In this sense, China will see a robust demand for aged care real estate, such as the apartment for the aged, bringing promising market.
Investment Projects of Aged Care Institutions in China
Source: ResearchInChina
Aged care real estate projects, taking old people’s department and old people’s community for example, have been becoming hot investment topics these days, attracting private enterprises, flagship real estate enterprises, insurance companies and overseas capital. In particular, privately-owned enterprises including Shanghai Qinheyuan and Sunset Glow have put their aged care real estate projects into operation and glued their eyes across China.
At year-end 2010, real estate enterprises including Vanke and Poly Real Estate Group initiated their first aged care properties. Additionally, insurance companies like Taikang Life and China Life Insurance Company also followed suit.
Fortress, an overseas enterprise, is projected to settle its first aged care community in a coastal city, with investment of USD1 billion approximately. Other foreign companies including Emeritus Corp. have quickened their pace in exploring Chinese market. The Ministry of Civil Affairs gives policy support to overseas enterprises for their investment in aged care institutions in China.
In site selection, aged care real estate projects have higher requirements on the natural and economic environment, population expansion policy and consumption level. Furthermore, the aged care real estate of China is still in its infancy, and the land acquisition mode, capital recycling and the later-stage operation model of a project will directly affect the return on investment.
1. Overview of Aged Care Industry
1.1 Definition & Classification
1.2 Features
1.2.1 Comprehensiveness
1.2.2 Welfare
1.2.3 Public Benefit
1.2.4 Profitability
2. Investment & Operation Environment of China Aged Care Market
2.1 Macro-Economy Environment
2.1.1 GDP
2.1.2 CPI
2.2 Industry Policy Environment
2.2.1 The 12th Five-Year Plan
2.2.2 Other Policies and Regulations
2.3 Medical & Health Environment
2.3.1 Quantity of Medical Establishment
2.3.2 Bed Quantity of Medical Establishment
2.3.3 Health Workers
2.3.4 Hospital Bed Occupancy
2.4 Old-Age Security System
2.4.1 Aged Care Living Security
2.4.2 Medical Insurance System
3. Status Quo of China Aged Care Market
3.1 Supply & Demand
3.1.1 Demand
3.1.2 Supply
3.1.3 Problems in China Aged Care Market
3.2 Major Aged Care Models Worldwide for Reference
3.2.1 Major Aged Care Models in Europe and America
3.2.2 Major Aged Care Models in Asia
3.2.3 Major Aged Care Models Abroad for Reference
4. Home-Based Aged Care Market
4.1 Overview
4.1.1 Senior’s Choice of Aged Care Models
4.1.2 Demand for Home-Based Aged Care Service
4.2 Policy of Home-Based Aged Care
4.3 Form of Home-Based Aged Care
4.4 Financial System of Aged Care
4.4.1 Contents
4.4.2 Endowment Insurance
4.4.3 Care Insurance
4.5 Problems in Home-Based Aged Care Market
5. Aged Care Institution Market
5.1 Classification of Aged Care Institution
5.2 Supply & Demand of Aged Care Facilities
5.2.1 Increase in the Supply of Aged Care Facilities in China
5.2.2 Considerable Demand for Institution-Based Aged Care in China
5.3 Privately-Owned Aged Care Institution Market
5.3.1 Large Quantities of Aged Care Institutions in East China while Small Quantities in West China
5.3.2 Age Structure of People Living in Privately-Owned Aged Care Institutions
5.3.3 Reasons for the Senior to Check in Aged Care Institutions
5.3.4 Problems in Privately-Owned Aged Care Institutions
5.4 Aged Care Real Estate Market
5.4.1 Robust Demand for Aged Care Real Estate
5.4.2 Short Supply of Aged Care Real Estate
5.4.3 Business Model of Aged Care Real Estate
5.4.4 Current Competition
5.4.5 Foreign Capital Admittance
5.4.6 Problems in Aged Care Real Estate
5.5 Projects under Planning or Construction
5.5.1 Old People’s Home, Social Welfare Institute & Home Care Center for the Senior
5.5.2 Old People’s Apartment (Old People’s Community)
5.5.3 Medical Establishment for the Aged
5.5.4 Others
6. Key Enterprises
6.1 Huichen Life
6.1.1 Profile
6.1.2 Operation
6.1.3 Development Strategy
6.2 Shanghai Qinheyuan
6.2.1 Profile
6.2.2 Operation & Management
6.2.3 Development Strategy
6.3 Tianjin Hetong Senior Citizen’s Welfare Association
6.3.1 Profile
6.3.2 Operation & Management
6.3.3 Development Dynamic
6.4 Sunset Glow Chain Seniors’ Apartment
6.4.1 Background
6.4.2 Operation
6.4.3 Jiangyin Sunset Glow Seniors’ Recreation Center
6.5 Shanghai Henghui Medical Treatment Technique Progress
6.5.1 Profile
6.5.2 Operation & Management
6.6 Yanda International Health City
6.6.1 Profile
6.6.2 Key Projects
6.6.3 Operation Model & Development Strategy
Aged Care-related Industry Chain
GDP & Its Growth Rate, 2006-2010
Proportion of GDP by Industry, 2006-2010
CPI Variation, 2008-2010
Development Goal of Aged Care Industry during 12th Five-Year Plan Period
Aged Care Industry Policies
Quantity of Medical Institutions in China, 2010
Bed Quantity of Medical Institutions in China, 2010
Health Workers in China, 2010
Work Efficiency of Medical Service in China, 2010
Number of Urban Employees Involved in Basic Endowment Insurance in China, 2005-2009
Income and Expenses of Basic Endowment Insurance Fund in Urban Regions of China, 2005-2009
Number of People in Rural Regions Participating in and Enjoying Endowment Insurance, 2005-2009
Pension Payment and Balance of Endowment Insurance Fund in Rural Regions of China,2005-2009
Number of People Enjoying Subsistence Allowances for the Urban Poor in China, 2006-2010
Standard & Expenditure Level of Subsistence Allowances for the Urban Poor in China, 2006-2010
Number of People Enjoying Subsistence Allowances for the Rural Poor in China, 2007-2010
Standard & Expenditure Level of Subsistence Allowances for the Rural Poor in China, 2007-2010
Number of People Enjoying the Five Guarantees in Rural Areas of China, 2004-2010
Average Standard for the Five Guarantees in Rural Areas of China, 2007-2010
Number of People Enjoying Basic Medical Insurance in Urban Regions of China and Growth Rate, 2005-2009
Number of Employees Enjoying Basic Medical Insurance in Urban Regions of China, 2005-2009
Proportion of Employees and Citizens Enjoying Basic Medical Insurance in Urban Regions of China, 2009
Total Population of China and Proportion of the Aged, 2006-2010
Physical Condition of the Aged in Cities Nationwide, 2008
Average Size of Chinese Families, 1953-2010
Dependency Ratio of the Aged Population in China, 2004-2009
Quantity of Aged Care Institution, Bed and Recipient in China, 2008-2009
Bed Quantity and Year-end Number of Recipients of Aged Care Institutions in China by Type, 2009
Comparison of Aged Care Models (Community) Overseas
Demand Ratio and Satisfaction Rate of Home-Based Aged Care Service in Urban Regions of China, 2008
Main Specialized Endowment Insurance Institutions of China
Main Contents and Benefits of Long-Term Care Insurance of PICC
Supply of Aged Care Facilities in China, 2009
Age Structure of People Checking in Privately-Owned Aged Care Institutions of China
Proportion of Reasons for the Aged to Check in the Home Care Center of the Senior
Proportion of Reasons for the Aged to Choose the Home Care Center of the Senior
Key Enterprises and Projects in Operation Engaged in Aged Care Real Estate These Days
Newly-Built Old People’s Home Project in Pujiang Town
Old People’s Apartment Project of Ganzhou Social Welfare Institute
Old People’s Social Welfare Center Project in Mentougou , Beijing
Chongqing No.1 Social Welfare Institute, National-Level Demonstration Aged Care Institution Construction Project
Old People’s Welfare Service Center Project in Changzhi
Shenyang Aged Care Service Center Project (phase II)
Home Care Center for the Senior & Hospital Construction Project in Zhongbei Town
Shui Yun Tian Lun Old People’s Health Ecological Community Project
Home-Based Aged Care Service Center Project of Yinhe Community
International Aged Care Center Construction Project, Yuanmingshan Tourist Resort
Tianjin Eco-City Old People’s Community Project
Changping Home Care Center for the Senior Project, Beijing Taikang Life
Ward Building, Outpatient Complex Construction Project, Fujian Geriatric Hospital
Newly-Built Ward Building Project of Hebei Geriatric Disease Hospital (Provincial Occupational Disease Hospital)
Jun Lian Home Care Center for the Senior & Rehabilitation Center Project for the Elderly People with Dementia
Leshan College for Seniors Project
Operation Pattern of Huichen Life
Bed Supply of Huichen Life
Membership Card Category, Expense, Rights & Interests of Shanghai Qinheyuan
Five-Grade Nursing Rating Definition & Nursing Fee of Hetong Senior Citizen’s Home
Content of Sunset Project
Charging Standard of Sunset Glow Love Nursing Home in Jiangyin, 2009
Charging Standard of Riyuexing Nursing Home in Xuhui, Shanghai, 2009
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