CHINA KNOWLEDGE

China Knowledge is in the business of providing business solutions and products on China. Within the Group it has financial terminal, publishing, newswires, research, multimedia production and a wide range of consulting services offer to foreign businesses seeking opportunities in China.
Business
Virtual graves rising in popularity in China
CKN
2019/03/19 03:48:34
2,037
China's News, China's Financial News,Virtual graves

Mar 19, 2019 (China Knowledge) - Chinese mainlanders are looking towards more value-added funeral services such as virtual graves where people can use to store information about the deceased.

Fu Shou Yuan International which is China’s largest funeral services provider is now planning to launch more virtual services to provide people with innovative methods to remember their loved ones, turning the company towards the direction of becoming a “memory factory”.

As China’s rising middle class becomes more affluent, there is a greater demand for additional funeral services which is helping to boost the after-life services industry. In addition, people are also becoming more open towards preparing for their own deaths with sales “pre-need” funeral services increasing by more than 110% since the company launched this package in 2017.

The number of deaths each year has been rising steadily in China from 8.3 million in 2004 to more than 10 million in 2015 due to the ageing population in the country which is in turn fueling a boom in the after-life services industry.

Grave prices have also soared over the last few years forcing the government to come up with new regulations to limit the size of columbarium niches where ashes are stored.

Yet Fu Shou Yuan remains unconcerned about rising grave prices and the possibility of running out of columbarium space as it expects virtual graves to take off in the future where people can easily access information and memories about the deceased online.

Copyright © 2018 www.chinaknowledge.com

Send feedback or comments to: info@chinaknowledge.com

For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: www.chinaknowledge.com

To access our page on Bloomberg, type CKFI