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Greenland Hong Kong ventures into China's healthcare sector, forms new platform

Greenland Hong Kong Holdings Ltd. is partnering with healthcare companies based in Australia and China, as it makes its way into the mainland's healthcare sector.

Greenland Hong Kong CEO Chen Jun said in a March 12 briefing in Shanghai, according to a same-day report from Shanghai Daily's SHINE news platform, that the Hong Kong-based developer will "vigorously" expand into various subsectors of the healthcare industry, which includes medical treatment, rehabilitation and aged care. The executive was also quoted as saying that the group is optimistic about China's healthcare and aged care industry, as the country "is seeing a rapidly growing aging population mainly due to longer life expectancy and declining fertility rates."

As part of the joint venture, Greenland Hong Kong agreed to a 70% stake in a 60-bed care facility in Shanghai for patients with Alzheimer's. Shanghai International Medical Center will take a 10% stake in the institution opening in July, while Provectus Care Group will take the remaining 20% interest. The partners are also planning to launch facilities in China's Yangtze River Delta and Pearl River Delta regions.

On top of the partnership, Greenland Hong Kong unveiled a new platform that will invest in nursing, rehabilitation, aged care, clinical and smart healthcare sectors, which it named Greenland Hong Kong Health Investment Co. Ltd.

Greenland Hong Kong is a subsidiary of Shanghai-based and Chinese state-owned developer Greenland Holdings Corp. Ltd.