China turns to homebuilder to make up elderly care shortage

A city in China is shifting the financial burden of its rapidly ageing population by partnering with the country's largest homebuilder to develop a senior living community. Shenzhen's elderly population is expected to grow by nearly 4% by 2020, but the country currently only has 31 care homes serving 8,359 people. Shenzhen's partnership with Vanke is emblematic of a larger trend within China, as more cities turn to the private sector to finance care homes.