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Cities around Beijing tapping into elderly care market

0 Comment(s)Print E-mail CNTV, July 11, 2014
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Beijing's population is not getting any younger. And Senior citizens are increasingly a target customer market for many cities, which are seeking to grow services for the elderly who are keen to move out of the crowded capital.

This nursing home in Zhuozhou is considered the city's best. Housing 174 old people with 300 beds, it is state-run, which means residents enjoy a 5000 yuan subsidy to offset their costs each year.

"The living conditions will further improve then. Residents here get a healthy diet with our own vegetable garden and livestock." said Chen Run, Director, Zhuozhou's Central Nursing Home.

Long waiting lists and rising cost for beds in Beijing have driven some elderly people away from the capital. Around 450,000 seniors in Beijing live apart from their families, but the capital only has 400 nursing homes, or roughly three beds for every 100 of them.

Apart from nursing homes, one of Beijing's best hospitals, the 301 hospital, is also building a branch here. And the icing on the cake -- lower home prices than in Beijing. All this is making Zhuozhou an ideal place for people to spend their lives after retirement.

Zhuozhou isn't too far from Beijing. A shuttle bus ride takes than 2 hours and a hop on the high-speed train shortens the journey to less than 40 minutes. That time in proximity to the capital has also pushed up housing prices in Zhuozhou. Yet overall, real estate is still cheaper compared to Beijing, attracting those who seek a slower pace to life.

"I bought an apartment here and have no plans to sell it. There is a bus which heads directly to Beijing daily. I've been retired for many years and it is very convenient for my family to visit me here." said Local Resident, Zhuozhou, Hebei Province.

Multiple cities close to Beijing such as Zhuozhou are competing for aging retirees to settle there. As living and medical costs in Beijing escalate, it becomes an even more attractive option.

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