French companies line up to care for China's elderly

A rapidly aging China is catching the eyes of French nursing home operators, who are planning to tap into the growing need of the country's elderly population.

Colisee Patrimoine Group, the fifth-largest nursing home operator in France, has rolled out an ambitious plan to open 50 elderly communities with 25,000 beds across China, targeting a turnover of 300 million euros ($386.7 million) in the next five to seven years.

Its first nursing home, which will offer 700 beds and occupy about 500,000 square meters, is expected to open in Kunming, the capital of Yunnan province next year, according to Pascal Brunelet, the group's managing director.