Baby boom expected in Year of Monkey
Beds are being booked out in most maternity hospitals and nursing centers in many Chinese cities. In Jiaxing, 100 kilometers from Shanghai, hospital beds for expectant mothers have run out for the first half of the new year.
Chinese tradition requires mothers to rest for at least a month after delivery. Nursing centers in Jiaxing have already fallen behind demand.
"Some of our best nursing services charge as much as 24,000 yuan ($3,600) for one month, but it is still difficult to secure a place," said a new father Chen in Jiaxing.
The demand for maternity nurses, who take care of the mother and new-born, is also on the rise. "I have to make reservation several months before the expected date of delivery for a professional matron," said a mother living in Hangzhou.
"And be prepared to pay huge," Chen said.
Harmonicare Medical Group owns 11 women and children hospitals across China. The group is currently upgrading its institutions in Beijing and Central China's Wuhan by adding more beds and recruiting more medical staff, as it expects the baby boom in the Year of Monkey.
Considering the strong consumption of parents, economic institutions and retailers are optimistic about industries related to infants and children, such as baby formula, diapers and skin care products.
Industry analysts estimated a total of 160 billion yuan of consumption dividends from the baby boom. Real estate market in first-tier cities, for example, is expected to experience a short prosperous period.
"The new-born population will fuel consumption, especially in cultural and service industries that deal with young customers," said Li Shaojun, chief strategist of Minsheng Securities.
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