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TAITRA encourages Taiwanese firms to invest in China senior care facilities

Source: Taiwantrade | Updated: 06 April 2011

Taiwanese businesses are encouraged to invest in senior care facilities in China, where an increasing number of elderly citizens have emerged, said Wang Chih-kang, chairman of Taiwan External Trade Development Council (TAITRA), yesterday.

Wang made the remarks during a forum discussing Taiwan's opportunities under the so-called 12th Five-Year Plan to be launched by China.

According to the TAITRA head, the Chinese national development project aims to increase the wealth of the people, boost domestic demand, enhance regional development, provide better care for the people and ensure a cleaner environment.

The five-year plan will also call on China to launch medical, insurance, education and senior care reforms, Wang said, adding currently, those over 60 years of age account for 13 percent of China's total population.

Of the seniors, 50 percent live alone, and the situation is more pressing for the elderly in urban areas, where as many as 70 percent of senior citizens live by themselves, he said.

Existing care facilities can accommodate only about 1.5 percent of them, he added.

Taiwanese businesses are encouraged to invest in senior care centers in China, especially those that are high-end and upscale, Wang said, adding that China has already opened door to joint investments between Taiwanese and Chinese operators.

In addition, Taiwan and China could also team up on environmental protection, given China's environmental issues amidst the country's industrialization, Wang said.

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