PUBLISHED DECISION GUIDE
China Opens Elder Care Market to Private and Foreign Investment
An official guide to the opening-up of China's elderly care services market, aiming to meet the needs of its growing aging population.
In response to the challenges of an aging society, China is opening its elderly care service market to private and foreign investment. This guide provides an overview of the policy direction and its implications for care providers and families.
Independently written English guidance based on cited public sources. Every public guide is human reviewed; it is not an official translation of the source publisher.
Overview of Market Opening
A total of 29 provinces, municipalities and autonomous regions have proposed opening the elderly care service market, with 26 of them indicating that the market would be open to foreign investment. This initiative aligns with a circular issued by China's State Council in December 2016, which aimed to reform the industry by introducing private capital and fostering innovation.
The government has described elderly care as a 'sunrise industry' and set a target of market opening by 2020. The pace of reform accelerated after the Ministry of Civil Affairs listed this opening as a key task for the year.
Industry insiders suggest that accelerating the opening of the elderly care service market can help address the aging society and improve the quality of domestic services.
Demographic Context
Last year, the number of Chinese aged 60 and above surpassed 240 million, accounting for 17.3 percent of the total population, according to a report by the National Development and Reform Commission. By 2020, this figure is projected to rise to about 255 million, representing 17.8 percent of the total population.
To promote rapid market development, a series of new policies are expected to be introduced, including further simplification of administrative procedures.
Public sources
Editorial process
Editorial review and corrections
This guide received human editorial review. Use its public sources and review date to assess the current information boundary.
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