Abstract
Chinese government is trying to use the Public-Private Partnership (PPP) to help the development of China’s elderly care industry. This article will analyze the characteristics of pension PPP projects, summarize the current status of China’s pension PPP projects and existing problems, and make some suggestions for these problems. Firstly, the article reviews the literature of China’s pension PPP projects, then introduces the common types of pension PPPs, and analyzes 107 pension service projects in the project management library of the Ministry of Finance’s PPP Center. Finally, it proposes the problems of existing PPP projects, and made some suggestions. The results of this study describe the current status of pension PPPs in China and provide useful references for future research.
Highlights
In 1999, China has entered an aging society and became the country with the largest number of elderly people in the world
This article will analyze the characteristics of pension Private Partnership (PPP) projects, summarize the current status of China’s pension PPP projects and existing problems, and make some suggestions for these problems
The results of this study describe the current status of pension PPPs in China and provide useful references for future research
Summary
In 1999, China has entered an aging society and became the country with the largest number of elderly people in the world. The existing community and institutional nursing homes in China cannot meet the rapidly expanding needs of the elderly. Due to imbalances in regional development, the number of nursing homes, and the shortage of supply for the elderly in the region, and the shortcomings of existing institutions such as inherently high costs and remote locations, the existing institutional pension services in China cannot meet the rapidly expanding market demand for the pension industry. The government finance does not need to spend a large amount of money to build pension service infrastructure, and many economically underdeveloped areas, especially those with severe aging, can use this approach to build elderly care facilities. This article reviews the status quo and development obstacles of China’s pension PPP project, hoping that it will help to some extent. The framework of this paper is as follows: Section 2 reviews the literature of China’s pension PPP; Section 3 analyzes the existing pension PPP projects of the Ministry of Finance PPP project library; Section 4 analyzes the main problems existing in China’s pension PPP project and puts forward some suggestions; Section 5 is the conclusion paragraph and summarizes the article
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