26 Sept 2017
Elderly Care Sector Set to be Overhauled via PPP Funding Model
The Ministry of Finance has called for the wider adoption of the public-private partnership (PPP) model as a means of upgrading and reforming the mainland’s elderly care industry, while also establishing a multi-tier system as part of the ongoing development of the sector. The new proposals were outlined in Implementation Opinions for Using the Public-Private Partnership (PPP) Model to Support the Development of Elderly Care Services, a recently published policy document.
The policy document also advocates entrusting existing state-run elderly care institutions to the private sector, while a number of government and public institutions should consider re-purposing many of their existing retreat facilities, training centres, guest houses and sanitoriums as elderly care institutions, with the PPP model applied in order to attract the private capital required to effect such transformations. Similarly, in those areas where the availability of commercial properties currently outstrips demand, consideration should be given to reinventing surplus factories, offices and other commercial sites as elderly care establishments, again using the PPP model to secure the required funding,
For further details (in Chinese), please refer to the following website: