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Will China’s “Internet Plus” Initiative Help Businesses Succeed in the Elder Care Market?
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Will China’s “Internet Plus” Initiative Help Businesses Succeed in the Elder Care Market?

Liu Yijun
Jiemian, 2017
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Recommendation

“Internet Plus” is the Chinese version of Industry 4.0. Both refer to the drastic changes to businesses and industries spawned by various new technologies, including the mobile Internet, cloud computing, big data and the Internet of Things. Liu Yijun, writing on the tech media website Jiemian, explains how to apply an Internet Plus strategy to the elder care industry in China. getAbstract recommends this article to readers keen to understand the significance of Industry 4.0 for any industry.

Summary

China’s elder care market looks promising. In 2035, 418 million people – 29% of the Chinese population – will be at least 60 years old. By one estimate, business opportunities in the market are worth about ¥5 trillion [$7.6 million] and will increase to ¥106 trillion in 2050, accounting for 33% of the GDP. However, the reality isn’t so rosy. The elder care business is inefficient, overpriced and unprofitable.

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About the Author

Liu Yijun writes for Jiemian, a Chinese news media startup that reports with a focus on tech and business news for "independent thinkers."

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