China moves into the retirement business with Greater Cincinnati advice

May 17, 2013

Carol Silver Elliott (right) will be the only American to speak at a retirement industry conference in Shanghai, China this week.
Credit provided

The CEO of Cedar Village Retirement Community in Mason, Carol Silver Elliott, is the only U.S. representative at the China Aging Industry Summit Forum this week in Shanghai.

The Deerfield Township woman was invited to give an overview of aging services in the U.S, in part because she serves on two national boards.

She'll talk about:

  •  Older U.S. adults receiving more support in their homes
  • The expansion of hospice
  • Funding challenges
  • Improved care for people with dementia

By 2040 China's over-65 population is projected to triple to about 500 million people. That's one-third of China's projected population. According to Brown University gerontologists the Chinese nursing home industry is surging to meet the demand and foreign companies are rushing to invest in elder care and retirement facilities in China.

Silver Elliott says China is very different than the United States in terms of its approach to older adults and senior services. "There have really been strong extended families and there have not been the system of retirement communities in place for older adults. "

She says it's really been a young industry and yet there is a big need because:

  • Growing aging population
  • Nuclear and extended families are not so close geographically
  • Two-career families are more common

Silver Elliott is scheduled to speak May 19th.