Could China become an attractive retirement home for foreigners?
A retiree visa could boost the economy and improve the elderly care industry, according to proposal
China has been urged to introduce a retiree visa for foreign nationals to boost its elderly care industry and improve the country’s international image.
Jia Qingguo, a delegate to the Chinese People’s Political Consultative Conference, the country’s top political advisory body, submitted a proposal along these lines during its annual session earlier this month.
He called for the early introduction of a conditional retirement visa available to foreign retirees, which would be valid for a period ranging from one to three years.
The international relations professor from Peking University pointed to the example of Thailand, saying that holders of its retirement visa spent an average of US$24,000 annually.
“Based on this standard, if China attracts 50,000 foreign retirees each year, they may create more than US$1.2 billion in consumption in medical care and cultural entertainment,” said Jia.
Jia suggested that foreign retirees could be given long-term or permanent residency if they met certain conditions.