Research of Public-Private-Partnership (PPP) Model in Elderly Care Service in the Accelerated Rate of Aging in China

Abstract

China urgently needs to grow the senior care business and raise the standard of elderly care services in response to the major problem of population aging. Currently, the government provides universal old services and depends on financial support. However, with government revenue continuing to decline, it is not possible for the government to provide elderly care services on its own. The cutting-edge model of government-social capital cooperation (Public-Private Partnership (PPP) for short) was applied. The government started actively guiding social capital into the field of elderly care services in order to optimize the social financing mechanism and relieve the pressure on the government, and the cutting-edge model of government-social capital cooperation was applied.