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15 July 2015

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300 Mln Guiding Fund Motivates Pension Industry

Hunan Health and Pension Industry Investment Fund, the first provincial government-guiding health and pension industry investment fund, was set up in Changsha on August 14.
Hunan Health and Pension Investment Fund concluded cooperation deals with Fullcheer Aging Industry Development Co., Ltd, Lebainian Pension Industry Operation Co., Ltd and Xinjiang Hansen Equity Investment Management Partnership Enterprise. After the completion of the above-mentioned cooperation, over 100 thousand nursing home beds will be equipped, serving 2 million senior citizens in home nursing programs. The 300 million yuan government fund is expected to channel social funds of 10 billion yuan to provide pension or heath care products and services. Leading enterprises in the health and pension industry will be cultivated and pushed to the capital market to establish it as an industrial cluster with output value of over one trillion yuan.
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Translator: Zhang Shu
Chinese source: