面对我国日益严重的“老龄化”趋势，解决老年人的养老问题已经成为一个紧迫的社会问题。在 2003 年召开的中共十六大三中全会上有关代表提及老年人养老一事，中央领导对此十分重视。随着我国养老事业的成熟发展，政府将进一步鼓励民营资本进入老年公寓的投资建设。针对此类具有社会福利性的经营性项目决策策划，仅从投资方决策的角度进行财务评价是远远不够的，还应当运用经济分析、社会评价等评价手段使政府、社会大众也参与到对此类项目的决策中。 本文通过对老年公寓概念的界定，提出了经营性老年公寓的项目定义，并对经营性老年公寓项目的经济特征进行了剖析总结；通过对国内经济评价主要方法体系的介绍，对经营性老年公寓项目的经济评价体系进行了深入、系统的研究，探寻其经济评价的特点和规律，尝试建立理论科学、切合实际、系统完整、操作容易，适用于我国经营性老年公寓项目的经济评价指标体系，提出对此类项目应进行财务、经济、社会三方面的综合评价，并对所建立的经济评价指标体系中的主要指标、经济评价基本要素的获取和相关参数的确定方法进行了分析；运用调查问卷的方式，对西安市老年公寓项目进行了市场调查和政策环境调查，通过对调查问卷数据的统计分析，明确了建设经营性老年公寓的客户群；论证了建设经营性老年公寓的必要性和价值，在借鉴国外先进的老年公寓设计、建设理念的基础上，进行适合我国社会发展、经济发展、满足老年人精神生活需求的经营性老年公寓的项目规划；运用建立的经济评价指标体系，以项目规划中探讨的经营性老年公寓作为案例，对其各种评价指标进行了计算和分析，从财务评价、经济分析、社会评价三个方面对该项目进行了全方面的经济评价。 经济评价是投资项目决策和管理的一个重要组成部分，是确定项目建设必要性和可行性的有力依据。公益性项目的投资效益不仅体现在其经济效益上，而且也体现在社会效益和环境效益上，对社会经济和生活的影响是多方位的，因此综合考虑各种影响因素是做出更加合理的经济评价的基础。本文尝试建立了适用于我国经营性老年公寓的经济评价指标体系，并结合案例对各个指标的计算与评价进行了验证，希望能为同类兼具经营性和公益性项目的决策提供思路。

The face of increasingly serious "aging" trend in China, how to solute the problem for older persons has become a pressing social problem. In 2003, the CPC held the Third Plenary Session on Shiliu Da, the representative referred to the Aged, central leadership attaches great importance to it. With the maturity of pension industry, the Government will further encourage private capital investment into the old apartment building. Policy planning for such business projects having social welfare character is not enough only from the perspective of investor decision-making to make financial appraisal. It should also use economic analysis, social assessment and other evaluation tools to make the government and community also participate in the decision-making on such projects. By the definition of the concept of old apartment, the paper proposes the project definition of operating old apartment and analyzes its economic characteristics. According to the presentation of the major domestic economic evaluation methodology to make in-depth and systematic study for economic evaluation system of operating old apartment, explore the characteristics and laws of its economic evaluation. Attempt to establish scientific, actual, integral, easy to use economic evaluation index system applying for my operating old apartment project. Such projects should be made on financial, economic and social evaluation in three areas, and analyze the key indicators, access to basic elements of economic appraisal and methods for determining the parameters. Make the market and policy environment research for old apartment project in Xi'an using the questionnaire method. Through statistical analysis of questionnaire data clears the commercial customer for constructing old apartment building. Demonstrate the commercial necessity and values about the construction of old apartment. Based on the reference of advanced old apartment building' design and construction concept, conduct project planning of operating old apartment for China's social development, economic development and to meet the spiritual needs of the elderly. Take the operating old apartment investigated in project planning as a case and use the established economic evaluation index system, calculate and analyze its indexes to evaluate the whole project from three areas. Economic evaluation is an important part of investment decision-making, it is the strong basis to determine the necessity and feasibility of projects. Investment benefit in public welfare projects is not only in its economic benefits, and also in its social and environmental benefits. Because of the impact on the socio-economic and life is multidimensional, it is the base to make a more reasonable economic evaluation considering various factors. This article attempts to establish a suitable economic evaluation index system for operating old apartment, test and verify various indicators with case, hope to provide ideas for similar projects both commercial and public welfare making decisions.