Core Viewpoint - The establishment of the "Elderly Care Service Specialist" as a new profession reflects the growing demand for specialized elderly care services in China, with the elderly population expected to reach 310 million by the end of 2024 [1][24]. Group 1: Overview of the Elderly Care Service Specialist - The role of the Elderly Care Service Specialist goes beyond basic caregiving, acting as a "life architect" to design a fulfilling second half of life for the elderly [3][16]. - Specialists conduct a comprehensive three-party assessment involving daily activity capabilities, cognitive levels, health conditions, and social support [5][8]. - The focus includes caring for specific groups, such as those with cognitive impairments, requiring knowledge of related diseases and communication skills [7][21]. Group 2: Professional Development and Training - The profession requires a diverse skill set, combining health care, social participation, and lifelong learning to meet the needs of the elderly [24][26]. - Educational institutions are increasingly offering programs in elderly services, with a significant portion of the workforce being young and educated [23][26]. - The profession is expected to grow significantly, with projections indicating a potential workforce of millions to meet the demands of an aging population [24][26]. Group 3: Market Demand and Future Prospects - By 2035, the elderly population in China is projected to exceed 400 million, creating vast employment opportunities in the elderly care sector [24]. - Current staffing levels in elderly care are insufficient, with only 1.338 million professionals available, highlighting a significant gap in meeting the growing service demands [24]. - The establishment of the Elderly Care Service Specialist is part of broader social measures to enhance elderly services, indicating a shift towards professionalization in the sector [24][26].

Group 1 - The core viewpoint of the article highlights the challenges in the service consumption sector in China, particularly the insufficient supply in areas with strong demand, such as elderly care and childcare services [1] - The report indicates that the supply of services is lagging behind demand, with the enrollment rate for children under three years old being less than 10%, significantly lower than the OECD average of approximately 36% [1] - The quality of service supply is also a concern, with an oversupply of low-end and homogeneous services, while specialized and personalized services are lacking [1] Group 2 - The People's Bank of China and six other departments have issued guidelines to enhance financial support for boosting and expanding consumption, focusing on both supply and demand sides [1] - The monetary policy will aim to maintain ample liquidity and reduce overall financing costs to create a favorable financial environment for consumption expansion [2] - There will be an emphasis on policy coordination, leveraging fiscal, employment, and social security policies to enhance consumer capacity and willingness [2]

Group 1: Silver Economy Growth Potential - The silver economy in China is estimated to reach approximately 70 trillion yuan (6% of GDP) by 2023 and is projected to grow to 190 trillion yuan (10% of GDP) by 2035[1] - The population aged 65 and above in China is around 220 million (15.6% of the total population) in 2023, with predictions of exceeding 380 million (30.9% of the total population) by 2050[1] - Improvements in healthcare and living standards are expected to further expand the silver economy's scale[1] Group 2: Consumption Capacity of the Elderly - The elderly population has a relatively high net asset level, benefiting from early home purchases and low debt ratios, with average annual housing price growth of about 8% from 2000 to 2020[3] - The average household size in China decreased from 3.1 people in 2010 to 2.6 people in 2020, indicating a trend towards smaller families and increased economic independence for the elderly[3] - By 2020, 55.7% of elderly individuals lived alone or with a spouse, and the reliance on family support decreased from 40.7% in 2010 to 32.7%[3] Group 3: Policy Support for Silver Economy - Since 2024, policies have been introduced to support the silver economy, focusing on supply-side adaptations and demand-side subsidies for elderly care services[4] - The government aims to enhance the supply of elderly care services and improve the infrastructure for elderly-friendly living environments[4] - There is a significant potential for expansion in elderly care facilities and services, as many urban homes lack elevators and other necessary amenities[4]

Core Viewpoint - The introduction of the personal consumption loan interest subsidy policy is expected to create significant opportunities in the consumer sector, particularly benefiting "service-oriented consumption" [1][2]. Policy Impact on Consumer Sector - The new "national subsidy" for personal consumption loans aims to stimulate the consumption market, which has been underperforming, with the consumer index dropping nearly 60% from its peak in 2021 to its lowest point in 2024 [2]. - Fund companies believe that the subsidy policy will enhance consumer demand and support economic growth by reducing credit costs and stimulating both supply and demand [4][6]. Short-term and Long-term Prospects - The subsidy policy is expected to have a short-term impact on demand, particularly in sectors like automotive and home appliances, while also fostering long-term growth in emerging consumption areas such as education and tourism [9][8]. - The consumer sector is currently viewed as undervalued, with a significant opportunity for recovery as the market sentiment has reached a low point [11]. Structural Opportunities - Despite the overall market rebound, the consumer sector has lagged, with a year-to-date decline of 2.11% in the consumer index as of August 14 [11]. - The current valuation of the consumer sector has dropped to below 20 times earnings, indicating potential for recovery as market perceptions may be overly pessimistic [11]. Broader Economic Implications - The subsidy policy is not only focused on consumption but also aims to rebalance the entire domestic demand chain, potentially benefiting banks and technology service providers as well [14]. - Banks are expected to benefit from increased retail lending demand and reduced credit risk due to the subsidy policy, which may lead to a positive cycle of growth in loan volumes and asset quality [14][15].

Group 1: Service Industry and Consumption Dynamics - In 2023, China's final consumption rate was 56.8%, which is 10.5 percentage points lower than that of middle-income countries and 19.2 percentage points lower than high-income countries[7] - Service industry output primarily flows into the consumption sector, with 78.5% of service industry final use being consumption, compared to only 36.2% for the industrial sector[12] - Urban residents' consumption accounts for 35.5%, rural residents 8.4%, and government consumption 34.6% of final use, highlighting the significant role of both resident and government consumption[15] Group 2: Potential Directions for Service Industry Development - The healthcare and social security sector in China accounted for only 2.6% of GDP in 2022, significantly lower than the sample region average of 7.2%[38] - The accommodation and catering industry represented 1.8% of GDP in 2024, which is 0.8 percentage points lower than the sample region average[38] - Cultural, sports, and entertainment sectors accounted for just 0.7% of GDP in 2022, compared to the sample region average of 2.5%[38] Group 3: Recommendations for Industry Improvement - For healthcare and elderly care services, macro policies should support the construction and operation of elderly care institutions through fiscal subsidies and loans, while also providing direct elderly care subsidies to low-income seniors[2] - In the cultural and tourism sector, the government should increase investment in cultural infrastructure and explore mechanisms like cultural consumption vouchers to stimulate demand[2] - In the accommodation and catering sectors, policies should focus on reducing tax burdens for individual operators and providing direct consumption subsidies to stimulate market demand[2] Group 4: Employment and Income Impact - The service industry accounted for 62.4% of non-agricultural employment in 2023, surpassing its 60.5% share of non-agricultural GDP[27] - The value added in the service industry flows more towards labor compensation, with 52.9% of service industry value added going to labor, compared to 34.8% in the industrial sector[23] - Each 1% increase in service industry employment leads to a 1.15% increase in manufacturing employment, indicating a strong multiplier effect[29]

《方案》提出，到2027年，县(市、区)、乡镇(街道)、村(社区)三级养老服务网络初步形成，社区日间照 料机构和养老服务设施实现全覆盖，乡镇(街道)综合养老服务中心覆盖率达到70%，养老机构入住率提 升到45%。到2030年，三级养老服务网络不断完善，乡镇(街道)综合养老服务中心覆盖率达到80%，养 老机构入住率提升到50%。 《方案》明确，全区5个地级市分别打造1—2家标准化养老机构，提供失能照护、康复护理等专业化服 务。新增不少于140个社区养老服务设施，打造"一刻钟养老服务圈"。利用闲置校舍、乡镇卫生院等存 量设施，增加60个左右具有全日托养、日间照料、居家上门等功能的区域综合养老服务中心，加快补齐 农村养老服务短板。结合"四类村庄"发展规划，分别增加400个左右、撤并30个左右农村养老服务设 施。精准补充建设180个左右村级养老服务站(点)。 本报银川8月8日电(记者焦思雨)近日，宁夏回族自治区《全区养老服务资源优化布局实施方案》(以下简 称《方案》)印发。 ...

Group 1 - Beijing Health (02389.HK) announced the successful bid for the Anhui Guangde Elderly Care Center project, which is expected to be completed by July 30, 2025 [1] - The project covers a total construction area of approximately 10,000 square meters and is designed to accommodate around 290 beds [1] - The project is part of the Anhui provincial government's initiative to establish Guangde City as a leading ecological and green elderly care base in the Yangtze River Delta region [1] Group 2 - With the successful bid for the Guangde Elderly Care project, the number of the company's elderly care institutions will increase to 9, raising the total bed capacity to 2,138 [1] - The project is strategically located in the core area of the Yangtze River Delta, catering to the elderly care needs from major cities like Shanghai and Nanjing [1] - The total construction period for the project is estimated to be around 16 months [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 二 零 二 四 年，安 徽 省 將 廣 德 市 定 位 為 長 三 角（安 徽）生 態 綠 色 康 養 基 地 先 行 區 及 首 批 國 家 森 林 康 養 基 地，全 力 打 造「全 齡 康 養」的 康 養 名 城，而 廣 德 養 老 項 目 正 位 於 長 三 角 核 心 區 域，未 來 將 承 載 來 自 上 海 市、南 京 市 等 周 邊 大 城 市 的 老 齡 康 養 需 求。 隨 著 廣 德 養 老 項 目 的 成 功 中 標，本 集 團 康 養 機 構 數 量 增 加 至9個，總 床 位 增 至 2,138張。 – 1 – 有關本集團之養老業務 （股份代號： ） （於開曼群島註冊成立的有限公司） 2389 自願公告 有關中標安徽省廣德市養老服務中心 新 增290張養老床位 本 公 告 由 北 京 健 康（控 股）有 限 公 司（「本 ...

Core Points - Guangdong Province is drafting the "Management Measures for Pre-collection of Fees in Elderly Care Institutions (Draft for Comments)" to enhance regulation of pre-collected fees in elderly care facilities [1] - The draft stipulates that the maximum period for pre-collecting elderly care service fees should not exceed 6 months, and the deposit for a single elderly person should not exceed 20,000 yuan [2][3] - Membership fees cannot exceed six times the highest monthly service fee of the institution and must not be collected through misleading promotions [2][3] Fee Collection Regulations - Pre-collected fees include service fees, deposits, and membership fees, and should respect the wishes of the elderly or their agents without coercion [2] - Monthly collection is preferred for service fees, with specific charges based on actual consumption for items like meal fees [2] - Institutions must provide clear information about fee collection and usage, including a written agreement detailing refund conditions and responsibilities [4] Investment Restrictions - Membership fees can only be used for facility construction and core business, prohibiting high-risk investments or loans to related enterprises [3] - Institutions that are not yet built or do not meet conditions cannot collect membership fees [3] Refund and Notification Policies - Refunds must be processed within specified timeframes, with full refunds for cancellations before admission and partial refunds after admission [4] - Institutions must notify elderly individuals or their agents 30 days in advance of any operational changes, including closures [4]

Core Insights - The development of the silver economy is a crucial measure to address population aging and create quality living standards, while also expanding domestic demand and exploring new consumption growth drivers [1][2] - The elderly population aged 60 and above in Lixia District has surpassed 160,000, accounting for nearly 20% of the resident population [1] Group 1: Initiatives and Projects - Lixia District has launched the "Silver Market" to create new scenarios for elderly service consumption, integrating government, market, and social resources to provide a one-stop, immersive public service platform [1][2] - The district has established the first street-level elderly service industry alliance in the city, linking excellent enterprises and institutions in elderly services, healthcare, and education, offering over 150 elderly service items [2] Group 2: Economic Impact and Growth - The district has organized two rounds of market activities at the district level, supporting over 50 community events, effectively improving the matching of supply and demand in elderly services [2] - Lixia District has seen a significant increase in elderly service enterprises, with three new large-scale elderly service companies added in the first half of the year, bringing the total to four, achieving a revenue of 29.76 million yuan, a year-on-year growth of 11.1% [2][3] Group 3: Future Plans - Future plans include focusing on the urgent needs of the elderly, continuing to cultivate and expand elderly enterprises, and enhancing the "Silver Market" brand while conducting seasonal activities to boost elderly service consumption [3]