China Aged Care Industry Report, 2016-2020

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Date: 29-Dec-2016
No. of pages: 130
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China entered the aging society early in 1999. By the end of 2015, China’s population aged over 60 reached 222 million and the old-age dependency ratio 13.9%. By 2020, China’s population aged over 60 is expected to hit 243 million and the old-age dependency ratio 15.8%, accompanied by a further intensified aging trend.

In 2016, the Chinese government promulgated the Guiding Opinions on Financially Supporting the Accelerated Development of Old-age Service Industry, 13th Five-Year Plan for the Development of Civil Undertakings, Several Opinions on Opening up Old-age Service Market and Improving Old-age Service Quality, and other policies to promote the construction of old-age service facilities and actively develop the medical-nursing combined old-age service system. At the same time, China's old-age security system has been gradually improved, with coverage further expanded. By the end of 2015, the number of people participating in the basic endowment insurance amounted to 858.33 million, including 353.61 million urban employees and 504.72 million urban and rural residents. By 2020, the number of people participating in the basic endowment insurance is estimated to hit 923.8 million.

Aged care industry mainly involves old-age apartment construction, household management service, and financial service industry as well as treatment, pharmaceutical & health-care products, home appliances, health management and other medical and health services for the elderly. This report mainly focuses on the old-age real estate market.

There are business opportunities worth approximately RMB4 trillion in the Chinese aged care market and expected to grow to RMB13 trillion by 2030, showing promising prospects. Under the impetus of potential benefits and favorable policies, some real estate developers, insurance companies and diversified enterprises as well as a number of foreign companiesare starting layout for aged care projects in China.

China’s aged care industry will present the following development trends in the future:

First, medical-nursing combined care becomes the dominant mode. Because of the particularity of the elderly and with the support of policies, the “medical-nursing combined” service for the aged will become the main development direction of aged care industry in China. Elderly hospitals, convalescent homes and infirmaries will be opened by aged care institutions to satisfy the elderly's medical-nursing needs.

Second, the market is more competitive. Under the impetus of policies, China will further lower aged care market access thresholds and relax foreign capital access standards. It means there will be more domestic and foreign companies to enter the Chinese aged care market in the future, resulting in more intense competition and gradually matured business model.

Third, mid-end consumer market is expanding. Currently, most of the funds in China have flowed into high-end aged care market, but only high-income groups can afford expensive nursing homes. Relatively, the number of mid-level elderly consumers accounts for the highest proportion and mid-end consumer market will gradually become the leading force. With the growing demand for old-age provision, China will gradually open mid-end aged care market in the future.

The report highlights the following:


  • Old-age security system in China, including policy support, old-age security, medical security, financial guarantee, etc.;

  • Aged care market in China, including market demand, market supply, trends, etc.;

  • Old-age real estate industry in China, including development status, competitive landscape, profit models, investment risk;

  • 19 enterprises’ operation as well as their layout and development strategies for aged care industry.

China Aged Care Industry Report, 2016-2020

Table of Contents

1 Overview
1.1 Definition
1.2 Industry Chain
1.3 Aged Care Models
1.3.1 Home-based Care
1.3.2 Institution-based Care
1.3.3 Community-based Care
1.4 Basic Characteristics
1.4.1 Comprehensiveness
1.4.2 Welfare
1.4.3 Commonweal
1.4.4 Profitability

2 China Old-age Security System
2.1 Policy Support
2.1.1 13th Five-Year Plan
2.1.2 Other Policies and Regulations
2.2 Old-age Security
2.2.1 Endowment Insurance
2.2.2 Social Assistance
2.3 Medical Security
2.3.1 Urban Basic Medical Insurance
2.3.2 New Rural Cooperative Medical System
2.3.3 Health Services
2.4 Financial Guarantee
2.4.1 Pension Finance
2.4.2 Commercial Endowment Insurance
2.4.3 Care Insurance
2.4.4 Comprehensive Liability Insurance of Aged Care Institutions

3 China Aged Care Market
3.1 Market Demand
3.1.1 Population Aging Enters the Accelerated Phase
3.1.2 Dependency Ratio of Elderly Population Rises Year by Year
3.1.3 Proportion of Working-age Population Declines
3.1.4 Size of Average Household Shrinks
3.2 Market Supply
3.2.1 Aged Care Pattern
3.2.2 Home-based Care
3.2.3 Institution-based Care
3.3 Development Status of Foreign Aged Care Industry
3.3.1 USA
3.3.2 UK
3.3.3 Japan
3.3.4 Germany
3.4 Trends
3.4.1 Medical-Nursing Combined Care is the Main Development Direction
3.4.2 Mid-end Service Market Becomes the Main Body
3.4.3 The “Asset-Light and Service-Heavy” Mode Has Great Advantages
3.4.4 Financially Strong Enterprises Have More Superiorities
3.4.5 Reducing Access Thresholds Intensifies Competition and the Market Matures

4 China Old-age Real Estate Industry
4.1 Development Status
4.1.1 Introduction
4.1.2 Foreign Experience
4.2 Competitive Landscape
4.2.1 Overall Conditions
4.2.2 Real Estate Enterprises
4.2.3 Insurance Companies
4.2.4 Diversified Enterprises
4.2.5 Foreign Enterprises
4.3 Profit Models
4.3.1 Self-operation
4.3.2 Sale + Lease
4.3.3 Sale
4.4 Investment Risk
4.4.1 Sales Mode
4.4.2 Profit Model
4.4.3 Supportive Policies
4.4.4 Site Selection
4.4.5 Profitability

5 Key Enterprises in China Aged Care Industry
5.1 China Vanke
5.1.1 Profile
5.1.2 Operation
5.1.3 Revenue Structure
5.1.4 Gross Margin
5.1.5 Sales
5.1.6 Old-age Real Estate Business
5.2 Poly Real Estate
5.2.1 Profile
5.2.2 Operation
5.2.3 Revenue Structure
5.2.4 Gross Margin
5.2.5 Layout
5.2.6 Investment Trend
5.2.7 Old-age Real Estate Business
5.2.8 Hexihui
5.2.9 Development Strategy
5.3 Beijing Capital Land
5.3.1 Profile
5.3.2 Operation
5.3.3 Gross Margin
5.3.4 Sales
5.3.5 Old-age Real Estate Business
5.4 Sino-Ocean
5.4.1 Profile
5.4.2 Operation
5.4.3 Revenue Structure
5.4.4 Gross Margin
5.4.5 Sales
5.4.6 Old-age Real Estate Business
5.5 Taikang Life
5.5.1 Profile
5.5.2 Operation
5.5.3 Revenue Structure
5.5.4 Aged Care Business
5.6 New China Life
5.6.1 Profile
5.6.2 Operation
5.6.3 Revenue Structure
5.6.4 Aged Care Business
5.6.5 Development Strategy
5.7 Ping An Insurance
5.7.1 Profile
5.7.2 Operation
5.7.3 Revenue Structure
5.7.4 Aged Care Business
5.8 Union Life
5.8.1 Profile
5.8.2 Operation
5.8.3 Revenue Structure
5.8.4 Aged Care Business
5.9 Cherish-Yearn
5.9.1 Profile
5.9.2 Operation
5.9.3 Old-age Real Estate Business
5.9.4Yihua Health Care Acquiring 58.33% Stake in Cherish-Yearn
5.10 Huichen Life
5.10.1 Profile
5.10.2 China Everbright Limited Acquiring 67.27% Stake in Huichen Life
5.10.3 Operation
5.10.4 Developments
5.11 Tianjin Hetong Senior Citizens' Welfare Association
5.11.1 Profile
5.11.2 Operation
5.12 Sunset Glow Chain Seniors’ Apartment
5.12.1 Background Information
5.12.2 Operation Modes
5.12.3 Jiangyin Sunset Glow Seniors’ Recreation Center
5.12.4Pingdingshan Sunset Glow Seniors’ Apartment
5.12.5 Putian Sunset Glow Seniors’ Apartment
5.13 Shanghai Henghui Medical Treatment Technique Progress
5.13.1 Profile
5.13.2Riyuexing Chain Nursing Home
5.13.3 Charging Standards
5.14 Zhejiang Double Arrow Rubber
5.14.1 Profile
5.14.2 Aged Care Business
5.15 Hebei SanheYanda Industrial Group
5.15.1 Profile
5.15.2 Aged Care Business
5.15.3 Operation Modes
5.16 Bright Food
5.16.1 Profile
5.16.2 Aged Care Business
5.17 China Taiping
5.17.1 Profile
5.17.2 Aged Care Business
5.18 Jinling Hotel Nanjing
5.18.1 Profile
5.18.2 Aged Care Business
5.19 Wuxi Langgao Elderly Service
5.19.1 Profile
5.19.2 Operation
5.19.3 Revenue Structure
5.19.4 Gross Margin
5.19.5 Aged Care Business
5.19.6 Development Plan

List of Charts

Aged Care Related Industry Chains
China’s 13th Five-Year Plan for Old-age Programs in Some Areas
China’s Policies on Aged Care, 2001-2016
Number of People Participating in Endowment Insurance in China, 2010-2020E
Number of Urban Employees Participating in Basic Endowment Insurance in China, 2010-2020E
Number of Urban and Rural Residents Participating in Basic Endowment Insurance in China, 2010-2020E
Number of Urban Employees Participating in Basic Endowment Insurance in China (by Type), 2009-2015
Income and Expenses of Basic Endowment Insurance Fund in China, 2009-2015
Cumulative Balance of Urban Employees' Basic Endowment Insurance Fund in China, 2009-2015
Number of Minimum Living Guarantee in Urban and Rural China, 2009-2015
Subsidies for Minimum Living Guarantee in Urban and Rural China, 2009-2015
Population Enjoying Five Guarantees Subsistence in Rural China, 2009-2015
Standards for Five Guarantees Subsistence in Rural China, 2009-2015
Summary of Old Age Allowance Policies in Some Areas of China
Number of Urban Residents Participating in Basic Medical Insurance in China (by Type), 2009-2015
Income and Expenses of Basic Medical Insurance Fund in Urban China, 2009-2015
Cumulative Balance of Basic Medical Insurance Fund in Urban China, 2009-2015
Number of Participants and Participation Rate of New Rural Cooperative Medical System in China, 2009-2015
Number of Medical and Health Institutions and Beds in China, 2014-2015
Overview of Enterprise Annuity in China, 2010-2015
Population of People Aged 65 and Over in China, 2009-2020E
Dependency Ratio of Aged Population in China, 2009-2020E
Proportion of People Aged 15-64 in China, 2009-2020E
Characteristics of Major Aged Care Models in China
Classification of Aged Care Institutions in China
Number of Beds in China’s Aged Care Institutions (by Type), 2008-2015
Number of Beds per 1,000 Aged People in China’s Aged Care Institutions (by Type), 2008-2015
Pension System in the UK
“Two-generation Housing” in Japan
Comparison of Foreign Aged Care Models (Communities)
Old-age Real Estate Projects Developed by Chinese Real Estate Enterprises and Their Modes, 2010-2016
Old-age Real Estate Projects Developed by Chinese Insurance Companies, 2010-2016
Old-age Real Estate Projects Developed by Chinese Diversified Enterprises, 2010-2016
Layout of Foreign Enterprises in China’s Aged Care Industry, 2012-2016
Cases and Operational Characteristics of “Self-operation” Type Old-age Real Estate Project in China
Cases and Operational Characteristics of “Sale + Lease” Type Old-age Real Estate Project in China
Cases and Operational Characteristics of “Sale” Type Old-age Real Estate Project in China
Revenue and Net Income of Vanke, 2012-2016
Revenue Breakdown of Vanke (by Business), 2012-2016
Revenue Structure of Vanke (by Business), 2012-2016
Revenue Breakdown of Vanke (by Region), 2012-2016
Revenue Structure of Vanke (by Region), 2012-2016
Gross Margin of Vanke’s Real Estate Business, 2012-2016
Real Estate Sales Area of Vanke, 2012-2016
Real Estate Clearing Area of Vanke, 2012-2016
Revenue and Net Income of Poly Real Estate, 2012-2016
Revenue Breakdown of Poly Real Estate (by Business), 2012-2016
Revenue Structure of Poly Real Estate (by Business), 2012-2016
Gross Margin of Poly Real Estate, 2012-2016
Gross Margin of Poly Real Estate (by Business), 2012-2016
Aged Care Strategic Planning of Poly Real Estate
Introduction to Poly Real Estate’s Aged Care Brands
Major Hexihui Projects of Poly Real Estate
Revenue and Net Income of Beijing Capital Land, 2012-2016
Gross Margin of Beijing Capital Land, 2012-2016
Sales of Beijing Capital Land, 2015
Sales of Beijing Capital Land, 2016H1
Sales of Beijing Capital Land (by Region), 2016H1
Revenue and Net Income of Sino-Ocean, 2012-2016
Revenue Breakdown of Sino-Ocean (by Business), 2012-2016
Revenue Structure of Sino-Ocean (by Business), 2012-2016
Revenue Breakdown of Sino-Ocean (by Region), 2013-2016
Revenue Structure of Sino-Ocean (by Region), 2013-2016
Gross Margin of Sino-Ocean, 2012-2016
Agreed Sales of Sino-Ocean (by Type), 2013-2015
Agreed Sales Area of Sino-Ocean (by Type), 2013-2015
Revenue and Net Income of Taikang Life, 2012-2015
Revenue Breakdown of Taikang Life (by Business), 2012-2015
Revenue Structure of Taikang Life (by Business), 2012-2015
Distribution of Taikang Community ? Urban Medical-Nursing Community
Introduction to Taikang Community ? Urban Old-age Community
Revenue and Net Income of New China Life, 2012-2016
Revenue Breakdown of New China Life (by Business), 2012-2016
Revenue Structure of New China Life (by Business), 2012-2016
Major Health Management Subsidiaries of New China Life
Revenue and Net Income of Ping An Insurance, 2012-2016
Revenue Breakdown of Ping An Insurance (by Business), 2012-2016
Revenue Structure of Ping An Insurance (by Business), 2012-2016
Revenue and Net Income of Union Life, 2012-2015
Revenue Breakdown of Union Life (by Business), 2012-2015
Introduction to Union Life’s Major Old-age Community Projects
Membership Card Categories, Expenses and Equities of Cherish-Yearn
Assets Condition of Cherish-Yearn, 2014-2015
Financial Data of Cherish-Yearn, 2014-2015
Introduction to Cherish-Yearn’s Major Old-age Communities
Ownership Structure of Cherish-Yearn
Ownership Structure of Cherish-Yearn after Industrial and Commercial Changes
Development History of Huichen Life
Introduction to Huichen Life’s Major Senior Apartments
Main Content of Sunset Project
Charging Standards ofJiangyin Sunset Glow Love Nursing Home
Distribution of Riyuexing Chain Nursing Home
Charging Standards of Jing’anRiyuexing Nursing Home
Charging Standards of XuhuiRiyuexing Nursing Home
Charging Standards of YichuanRiyuexing Nursing Home
Charging Standards of YangpuRiyuexing Nursing Home
Charging Standards of PudongRiyuexing Nursing Home
Charging Standards of Ningbo Riyuexing Nursing Home
Charging Standards of Shanghai Riyuexing Nursing Home
Charging Standards of Shanghai Aiyide Nursing Home
Financial Indicators of TongxiangHeji Nursing Home
China Taiping’s Layout for Aged Care Industry, 2013-2016
Development History of Wuxi Langgao Elderly Service
Revenue and Net Income of Wuxi Langgao Elderly Service, 2014-2016
Revenue Breakdown of Wuxi Langgao Elderly Service (by Business), 2014-2016
Major Customers of Wuxi Langgao Elderly Service, 2014-2016
Gross Margin of Wuxi Langgao Elderly Service, 2014-2016
Service Content of Wuxi Langgao Elderly Service’s Institution-based Care Business

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