This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

China Senior Living Advances Further With Care Show China





 

SHANGHAI, Nov. 7, 2012 /PRNewswire/ -- Last week in Shanghai, experts gathered to discuss geriatric care best-practices and continue the process of defining senior care in China, a fast growing but still fragile industry.

The inaugural Care Show China was organized by UBM and took place on Oct. 24-25 at the Hotel Equatorial Shanghai with nearly 300 delegates and 29 speakers from 15 nations and regions.  Topics include policy and regulation, business model, operation management, and IT and technology. Among all the conferences in Asia dealing with senior living, the Care Show was the best attended to date.

Bromme H. Cole, President of Hampton Hoerter China and Chairman of the conference closed day one with a series of insights that are revealing not just for the industries present status but for where it may be headed in the near term. As a recognized industry veteran, Cole remarked, "While there is clearly a mania underway in China senior living, it underscores the eagerness of the Chinese to learn about geriatric care as well as the demographic dynamic. China is searching for a Chinese solution to senior living and not just Western expertise dressed up in a Han. Merely translating operating manuals won't work and this is one reason why so many Western senior living operators have left China disappointed." Yan Qingchun, Deputy Director of China National Committee Ageing and one of the Show's keynote speakers, spoke at length on China's preparations for the ageing bubble that is confronting the country at present. Mr. Yan reinforced Cole's basic premise during his keynote by saying, " China is seeking its own model to solve the ageing problem. In the 12 th five-year-plan, the government unveiled a new policy to promote ageing at home, multi-generation-living schemes as well as changing the hukou regulation for senior citizens so as to allow them to live with their children and enjoy national healthcare program in the city where their children live."

The Chinese modern senior living industry, by many estimates, is only a few years old having received its "birth certificate" via special focus in China's 5 th 12 year plan that was issued in 2011. Since then, developers across China have been in a mad rush to build projects. The major difficulty, other than construction quality, has been the lack of geriatric care operations and a fundamental understanding of Gerontology; the critical service component of the business and the underlying science of ageing. Consequently, most facilities in China today are lifestyle developments with little or no care component. Yet, lifestyle or choice-based senior living has been slow to catch on. In his keynote speech, Cole suggested a reason, "Chinese seniors aged 65+ are children of the revolution, civil war, famine…you name it…they have no shortage of traumatic experiences. All of which has made them very thrifty, frugal spenders….even if they are wealthy. Conspicuous consumption is largely the domain of those born after the death of Mao.  So, choice-based developments may be still another 10 to 15 years ahead of us."

But Waterbrook Asia's Chairman, Kevin Ryan, who has also been in China working the industry for a couple of years already, has a different take. Ryan says, "Waterbrook Asia represents everything the Chinese want and need in choice-based senior living: especially the fundamental ingredient of a real estate model offering strata title (freehold). The failure of much of choice-based senior living to date is that developers were selling leasehold ownership; a decision anathema to the Chinese mentality." Cole is quick to respond to this with tentative agreement, "True. The real estate model is likely to work, yet the "tipping point" if you will that transforms China senior living from a trend into an industry is the development of "localized" operators who have assimilated and culturally integrated the fundamentals of aged care into an acceptable Chinese context…not just ownership of real estate." Cole has received critical acclaim for his artful and insightful essays on senior living in China which are published at www.ChinaSeniorLiving.com.

Other speakers echo the enthusiasm which Cole and Ryan have for the industry. Tom Hill, another knowledgeable professional of the China healthcare industry and whose company, Direct Supply, is a manufacturer of durable medical supplies says, "The industry has strong fundamentals and the future is full of opportunity."

Care Show China has scheduled next year's conference and exhibition on Aug. 22-23, 2013 in Shanghai World Expo Exhibition & Convention Center. For more information please contact Leona Li, marketing executive of UBM China ( Leona.li@ubm.com) or find more information on event's official website: www.careshow.com.cn

Media partnership and PR

Leona LiT +86-21-6157 7235E leona.li@ubm.com   About the UBM Care Show

The UK Care Shows, established for over 10 years, are the largest events for care providers in England.

A total of over 300 exhibitors gather each year across two shows to network with directors, managers and proprietors from nursing homes, care homes, retirement villages and homecare agencies.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs