China Vanke Co. Ltd. (000002.CN) will launch a pilot scheme in Beijing to establish elderly homes in every property project it develops, the Beijing Business Today reported Tuesday, citing vice president Mao Daqing. Under the proposal, a block of elderly homes will be incorporated in every new housing project it develops in the capital. The apartments for rent will be between 30 and 60 square meters each and supported by elderly care facilities such as restaurants, entertainment halls and rehabilitation centers. While some analysts branded the plan as a mere public relations stunt, Mao insisted that the company is determined to provide sustainable elderly care services through its property development business, the report said.
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