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China’s Insurers Try Novel Approach to Elderly Care: Building Retirement Homes

Industry has spent more than $10 billion building retirement communities to address aging population’s needs

By

Chuin-Wei Yap

Chuin-Wei Yap

The Wall Street Journal

Biography Chuin-Wei Yap
@YapCW
Google+

Feb. 14, 2018 5:30 a.m. ET

About an hour’s drive from downtown Shanghai sits a resort-like community housing hundreds of senior citizens. It is an ambitious experiment in retirement care in China.

The multistory complex, which can house up to 2,000 households, has a hospital, places of worship, a cinema and a gym. Residents gather to eat buffet meals, play mahjong and sing folk songs. To gain a spot in this luxury development, people have to buy a life insurance policy from Taikang Life Insurance Co., a privately held Chinese company.

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