Shenzhen government, Vanke team up on first public-private partnership senior living project
The facility is part of the city’s plans to improve care provision for its ageing population
Shenzhen, China’s third largest city, is teaming up with the country’s largest homebuilder to jointly develop its first-ever public-private partnership senior living community project, as part of the city’s reforms aimed at addressing a shortage of health care facilities.
China Vanke, the Shenzhen-based developer with annual sales surpassing 200 billion yuan, said it won the PPP contract after fierce competition among bidders this week.
“Elderly care is a very serious problem in China as a whole, and although Shenzhen is a relatively young city, its older population is growing rapidly and the city will soon face the issue of aging society,” said Vanke chairman Wang Shi.
Starting January 1, 2017, Vanke will redevelop a government-run block of apartments for senior residents in Futian District, the city’s financial and political core, into a fresh senior living community providing 420 beds and a variety of services from day care to medical-nursing combined care, the company said, without disclosing the investment amount.
Shenzhen’s older population is growing rapidly and the city will soon face the issue of aging society
Shenzhen’s average life expectancy has reached 80 years, one of the highest in China. Its ageing population had climbed to 1.2 million by 2015, accounting for 6.6 per cent of the total population.That proportion will surge to 10 per cent by 2020, the local government estimates.