SHANGHAI, Jan. 27, 2020 /PRNewswire/ -- CHINA AID, the leading exhibition for the fast developing senior care market in China, organized by the Shanghai Civil Affairs Bureau, the China Council for the Promotion of International Trade Shanghai and Shanghai Intex Exhibition, will be held from June 11-13, 2020.
The exhibition and conference platform has been held for over 20 years, AID has become one of the largest and most established exhibitions of senior care in the world, incorporating multiple platforms for product demonstration, service showcasing, knowledge exchange and prospect networking.
More than 400 exhibitors from at least 20 countries are expected to attend AID 2020, with the show's floor space set to reach 36,000 square meters and attract over 50,000 professional visitors.
It is the must-attend event for growing businesses in the fast-developing senior care industry in China, providing international companies establishing their presence with an effective platform to develop serious business opportunities.
Open to new business through entering China's fastest growing market
In China, public awareness of the extent of rehabilitation services and the growing availability of assistive technologies is limited and still growing. So, it is very important for international senior care operators entering China to gather local market information and promote their services or products effectively.
Most choose to attend a professional senior care show to act as a launch pad into the domestic market, and the first choice is CHINA AID.
Shifting demographics offer immense opportunities
China's population aged over 60 will reach 255 million this year. This is predicted to peak at 34.9 percent of the population, or 487 million people by 2050. By then, caring and medical services are expected to make up 26.2% of the Chinese economy, compared with 7.3% in 2015.
Already the demographic shift is being felt, with demand rising for assistive technology and mobility products, while the provision of nursing care is currently falling considerably short of needs.
With a rapidly expanding elderly population and expansive government measures under full steam to address this challenge, China's emerging senior care industry has a very bright future.
As we enter the 2020s, the huge challenge of an ageing population is a great opportunity for international senior care product and service providers looking to enter the Chinese market. With huge pressure on the country's traditional family-centric model of elderly care, maintaining care only within the family is unfeasible for China's modernizing citizens.
This large and growing demographic of elderly without access to necessary care embodies a real opportunity for those seeking to provide elderly care products and services in China. The country is set to quickly become one of the world's most lucrative markets for senior care in the decade ahead.
The market value of China's senior care industries will approach 8 Trillion Yuan this year and is anticipated to surpass 22 Trillion Yuan by 2030, overtaking real estate to become China's largest market.
New policy priorities are fueling further growth
As China rapidly transitions to an ageing society, the government is tackling the need to expand the supply of elderly care services and meet demand for products and technology in the sector.
China's new Medium-to-Long-term Plan specifically addresses several policy priorities to actively cope with population ageing, which include improving the senior care market's available labor supply, implementing health-related education services, and expanding on the use of assistive technologies.
In doing so the plan stresses the importance of fostering the quality of human resource in senior care, primarily through concentrating on professional training and developing the skill sets necessary to meet demand.
In recent years, Chinese regulators have continuously promoted favorable policies directed at enhancing foreign involvement in the senior care industry, increasingly opening up the market and providing attractive subsidies and incentives. This is to strongly encourage the international experience needed in China to develop domestic talent and effectively train practitioners in elderly care support services best practice.
The new Foreign Investment Law that took effect in China on January 1st 2020 will better protect the interests of foreign investors in the country. Under the law, the government will treat domestic and foreign-owned enterprises equally in consideration of government funding, land provision, tax cuts and fee cuts, licensing, standards setting, project applications, and human resource policies, among other areas.
Policy inducements, coupled with rising consumer demand and purchasing power, have also bolstered entrepreneurial interest among real estate developers, venture capitalists, investors, and many other business interests – both foreign and domestic – in tapping into China's booming senior care market.
Plan a trip to Shanghai, China from June 11-13, 2020, and immerse yourself in China's 8 Trillion Yuan senior care market. Visitors can register at the exhibition for free through the official website www.china-aid.com/en.
CHINA AID point of contact:
Shanghai Intex Exhibition Co., Ltd.
E: [email protected]
SOURCE Shanghai Intex Exhibition Co., Ltd.