This paper is interested in the nursing care service industry in China, one of China's emerging and promising industries. This paper examines the Chinese nursing home service industry, but focuses on the start, status, problems, and the nursing care s...
This paper is interested in the nursing care service industry in China, one of China's emerging and promising industries. This paper examines the Chinese nursing home service industry, but focuses on the start, status, problems, and the nursing care service market of China. In addition, this paper analyzes China's nursing care service industry and market from a business perspective and a policy perspective.
China's nursing care service industry is still in the early stages of development, and the entry of Chinese private capital and foreign capital has only recently been opened. In China, supply of nursing care services is not largely keeping up with demand due to the rapid increase in demand for nursing care services due to rapid aging. In order to meet the rising demand for high-quality nursing care services, entry of domestic private capital and foreign capital is required. In China's nursing care service system, home nursings occupy the absolute majority, and facility nursing homes are very weak. Besides, the government’s role in the supply of nursing care services in China is important, and the entry of domestic private capital has begun late. Private capital, which occupies a very small proportion, is focusing on high-end nursing care services, and foreign capital is also open to entry. However, although the entry of domestic private capital and foreign capital into the Chinese nursing care service market is open, there are still many restrictions and institutional loopholes, so the business risk is high.
Nevertheless, the nursing care service industry has the huge potential to become a new industry with a bright prospect and a new growth engine in Chinese economy, which is heading towards an ultra-aged society. The nursing care service industry encompasses a wide variety of businesses, and the connection with related industries is comparatively strong.
The Chinese government is trying to welcome the entry of domestic private capital and foreign capital to meet the rapidly increasing demand. Therefore, it is expected that Korean capital with rich private nursing care service experience will also have good business opportunities in China's nursing care service industry. However, it should be taken into account that there are still various institutional and practical limitations for foreign capital.