HONG KONG/SINGAPORE (Reuters) - At the Happy Community housing development in Beijing, China's largest property developer is setting aside 24,000 square metres (258,000 sq ft) for active seniors to test whether this rapidly ageing nation will pay for Western-style retirement living.
China Vanke Co Ltd thinks there is "ample room for development" in the senior care sector, a spokesman said, and is testing a second pilot project for seniors in the coastal city of Qingdao. The company plans to open a showroom in the Chinese capital over the Lunar New Year in February.
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