Thursday 10 September 2015

Looking for ways to spend

Otmane El Rhazi from China.

THE Ensen Care old-age home, which is soon to open, knows its target market. A mah-jong table takes pride of place in its recreation room. Space has been made outside for tai chi practice in the morning and line dancing, much loved by Chinese pensioners, at dusk. Photos in glass cabinets depict the imagined lives of its prospective residents: grainy pictures of youths in Red Guard uniforms next to studio portraits with grandchildren in more prosperous later years.

Few homes for Chinese senior citizens have the pedigree of Ensen Care, a subsidiary of Legend Holdings, owner of Lenovo, one of the world’s biggest computer manufacturers. The old-age home in Changzhou, a city of 4.7m west of Shanghai, is a pilot project designed to demonstrate what can be achieved when private investors provide public services. In exchange for a subsidised parcel of land, Ensen is building a hospital and a community centre, which it will transfer to the municipal authorities. The hope is that this model of public-private partnership (PPP) will help local governments bring projects to fruition without adding to their already sizeable debts.

If that is the idea, the...Continue reading

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