CMIG Seniorcare Industry Alliance Navigates Blue Ocean of 10-Trillion Yuan Industry

　　The “CMIG Seniorcare Industry Alliance” (hereinafter referred to as “Alliance”) led by China Minsheng Investment Group Home-based Aged Care Co., Ltd. (hereinafter referred to as “CMIG Home-based Aged Care”) was officially established during the 11th China Brand Festival in Beijing on August 8th. Such domestic and foreign political dignitaries, experts and scholars, business delegates, including Chen Changzhi, Vice Chairman of the Standing Committee of the National People's Congress & Chairman of China National Democratic Construction Association, Kevin Michael Rudd, Australia’s 26th Prime Minister, and Wang Hui, Chairman of CMIG Futurelife were present to witness the establishment ceremony.

　　As of the end of 2016, China had over 230 million of senior citizens aged above 60, marking China had formally stepped into the aging society. The “Plan for Seniorcare Industry in China” issued by the China National Committee on Aging (CNCA) in 2016 estimated that the total output of China’s seniorcare industry will break through RMB10 trillion, making it a “super industry”.

　　The market demands in this industry have been growing vigorously. In contrast, China’s seniorcare service enterprises are inefficient in utilizing resources with loose and non-integral structure. In addition, the lack of diversified seniorcare services and the severely imbalanced supply and demand of relevant talents further undermine their capabilities of meeting market demands.

　　In this context, the establishment of the Alliance attracts wide attention of people from all walks of life: What is the original intention of building such an alliance? How will it exert its function? What fundamental changes will it bring about to China’s seniorcare industry?

　　CMIG’s mode achieves initial success by pooling efforts in seniorcare

　　Wang Hui said at the Alliance Establishment Ceremony that since its founding, CMIG has been long committed to integrating corporate development with the needs of the nation and the society. In developing its business, CMIG also takes the initiative to shoulder the corporate social responsibility.

　　This year marks the 3rd anniversary of its founding. When pursuing its development, CMIG has gradually formed its three characteristic industries: home-based aged care, new energy and prefabricated building. Specially, home-based aged care, which is closely tied with the residents’ living, represents the most imperious demand in society.

　　As the main operator of seniorcare industry under CMIG, CMIG Home-based Aged Care introduces advanced management experience and operation modes and explores a new development path to home-based aged care that values light asset and high tech, and integrates industry and finance, by fully relying on the capital strength of CMIG, implementing the development thinking of “industry-finance integration”, and leveraging the leading advantages of community management resources of CMIG Futurelife in an joint effort with governments and social forces.

　　After just one year since it was founded, CMIG Home-based Aged Care has accumulated and developed a mature operation mode suited for itself. It has built community-based aged care service stores, regional aged care service stations, and municipal aged care rehabilitation centers on the nearly 600 million square meters of community management area owned by its parent company CMIG Futurelife. It has also rapidly expanded its market through such diversified approaches as public-built & private-run, self-run & self-built, joint venture cooperation, entrusted operation, franchise chain and investment & merger. Gradually, it has formed a “3-km Aged Care Service Network” in many cities.

　　Diversifying strategies boost the healthy development of industry

　　The establishment of the Industry Alliance is exactly an embodiment of the developing mode of CMIG Home-based Aged Care. The Alliance engages with management committees and secretariats that are made up of governments, enterprises, and non-governmental organizations to establish healthy partnerships with relevant aged care institutions in America, France, Germany, South Korea, Japan and other countries. After that, it reaches out to domestic aged care enterprises, so as to build a collaborative platform for mutual benefit and win-win outcomes. It will also facilitate the exchanges and development of China’s seniorcare service industry by arranging forums, conducting inspection, and holding exhibitions.

　　The Alliance will actively invite premium seniorcare- related enterprises, large corporate groups, professional service agencies and individuals to join this initiative, and encourage specialized cooperation that complements resources and advantages, with a view to jointly establishing seniorcare industry service system and speeding up the modernization of seniorcare enterprises.

　　On the basis of pooled resources and established platform for industrial exchanges, the Alliance will give full play to the unique advantages of CMIG Home-based Aged Care in technology, capital and operation to support, incubate, and help more enterprises that are committed to seniorcare industry grow better, thus benefiting more senior citizens and families in China.

　　CMIG Seniorcare has initially built a comprehensive technological service network of intelligent hardware + management software + e-commerce platform which offers full-range technological support for the members of the Alliance. By doing so, it aims to prompt seniorcare enterprises to optimize their management and improve efficiency, thereby boosting the industrial upgrading with technological force.

　　On the very day when the Alliance was established, CMIG Seniorcare signed agreements with domestic well-known enterprises including CCB Pension, TTGG, Credit Capital, Puhua Capital and V. Stone, in a bid to jointly set up a ten-billion-yuan seniorcare industry development fund. Next, the fund will be available to cities nationwide, thereby driving the sound development of local seniorcare industry forward by utilizing the strength of capital.

　　This international operation team from America, Europe and Japan built by CMIG Seniorcare enables the implementation of the leading and mature models for seniorcare operation and experience. It also better integrates China’s national conditions to create rich and diversified aged care and support services for the elderly based on their demands, and to offer valuable operation experience for the members of the Alliance.

　　By mid-August, CMIG Seniorcare has implemented relevant projects of seniorcare in Beijing, Shanghai, Hainan, Xi’an, etc. It has also initiated strategic collaboration with Tianjin, Anhui, Guangxi, Shandong, Fujian, Henan, Sichuan, Jiangsu, Zhejiang, Chongqing, Wuhan, etc. When the Alliance was officially established, CMIG Seniorcare also signed the cooperation agreements with such cities and districts as Jinjiang District of Chengdu City, Beidaihe New Area of Qinhuangdao, Penglai, and Zhaoquanying Town of Shunyi District in Beijing, to jointly develop seniorcare industry with local characteristics.

　　The China Brand Festival held on August 8th marked that CMIG Seniorcare has entered a new stage of industrial development, judging by both the establishment of the Industry Alliance and Industrial Fund. It will join hands with excellent peers to build a major platform for seniorcare industry which offers high-quality seniorcare services for the aged and advances the healthy and vigorous development of this industry in China.