According to the "Notice of the Ministry of Finance of State Taxation Administration of The People's Republic of China on the Relevant Tax Policies of Pension Service Institutions" (Caishuizi [2000] No.97), "1. The welfare and non-profit pension service institutions invested by government departments, enterprises, institutions, social organizations and individuals are temporarily exempted from enterprise income tax, as well as the property tax, urban land use tax and vehicle use tax of the self-occupied real estate, land and vehicles of the pension service institutions.

3. The service institutions for the elderly mentioned in this Notice refer to welfare and non-profit institutions that provide life care, culture, nursing and fitness services for the elderly, mainly including: social welfare homes, nursing homes (nursing homes), service centers for the elderly and apartments for the elderly (including nursing homes for the elderly, rehabilitation centers and nurseries). "