Global Insights , China Context



China to fully open up elderly services market and lower entry threshold



Source: Xinhuanet


[October 12] The Central Leading Group for Comprehensively Deepening Reforms has considered and approved the “Certain Opinions on Fully Opening up Elderly Services Market to Improve Service Quality”, proposing to lower the entry threshold for private capital to flow into the elderly service industry, drive the reform of public nursing homes, improve the quality of in-house, community and rural elderly services, and promote the development of system, standards, facilities and workforce for the sector. Currently, China has an elderly service market of over RMB3 trillion in terms of consumption, which will reach RMB5 trillion by around 2050.