An Australian company with 210 years of combined aged care expertise is tapping into China’s rising senior living market, partnering with a Chinese real estate giant on major projects in Shanghai.
RDNS Hong Kong – the China subsidiary of Bolton Clarke – is providing advisory services to Yango Holding Group for the Tianhui Senior Living Community redevelopment, as well as training Chinese employees in aged care operations and service delivery.
Deputy Premier Jackie Trad said Bolton Clarke had found success as a member of Australia’s first senior living and aged care consortium, the Australian Silver Industry Group.
“Next year, China’s population is tipped to reach 1.4 billion people – 248 million of whom will be over the age of 60,” Ms Trad said.
“China is looking to leading aged care providers around the world to help design, build and operate facilities of the highest quality.
“Trade and Investment Queensland has taken a leading role, providing key introductions through the work of the Australian Silver Industry Group.
“To-date, ASIG activities have helped to generate leads resulting in $8.6 million in export deals for the consortium members, with a further pipeline of $80 million of further projects under negotiation.”
The Deputy Premier said the Queensland Government, through its trade and investment arm, has supported Bolton Clarke on multiple visits to China, including a visit to Shanghai in May when the company signed an agreement with Yango to partner on eight continuing care retirement community sites.
“By 2022, RDNS Hong Kong will commission and manage up to 5,000 residential aged care beds in Shanghai – starting with the Tianhui Senior Living Community redevelopment, which includes 120 independent living apartments, 10 residential aged care beds and an on-site clinic,” she said.
Bolton Clarke provide daily independent living services for more than 100,000 clients in their 26 residential communities Australia-wide.
Bolton Clarke Group CEO Stephen Muggleton said China represents enormous opportunities and exciting challenges for aged care providers, as well as a potential to improve the quality of life for millions of people.
“Being part of ASIG has been a game-changer, because individually the competitiveness of Australian operators has in the past been constrained by the sheer breadth and scale of capability required for projects on such a scale,” Mr Muggleton said.
“Bringing together organisations with proven international business experience and success places us well to leverage the unique advantage presented by the China-Australia Free Trade Agreement.”
The Australian Silver Industry Group is part of the Business Consortium initiative under the Trade and Investment Queensland (TIQ) Advancing Queensland Trade and Investment Strategy 2017-2022.
Trade and Investment Queensland has led the Australian Silver Industry Group on three prosperous missions to China, Hong Kong and Singapore since being established in March 2018.
Last November ASIG signed a Memorandum of Understanding (MoU) with the Beijing Association for Senior Care Industries, providing access to 300 companies in China’s aged care sector.
Deputy Premier Jackie Trad is in Shanghai as part of a three-day trade mission to China.