A nursing staff takes care of a senior citizen at a community-based day care service station for senior citizens in Shanghai, east China, Jan. 2, 2020. (Xinhua/Liu Ying)
BEIJING, Feb. 23 (Xinhua) -- The scale of China's elderly care market has continued expanding since 2018, and is likely to value 10.25 trillion yuan this year, the Xinhua-run Economic Information Daily reported on Wednesday quoting data from the consulting agency iiMedia Research.
CCID Consulting affiliated to a think tank under the Ministry of Industry and Information Technology made similar projection, predicting that affected by improved policies, accelerated population aging and the change in consumption mindset of the elderly, the overall scale of the elderly care industry in China is expected to reach 9.81 trillion yuan in 2022.
The latest census data showed that Chinese people aged 60 or above accounted for 18.7 percent of the country's total population in 2020, 5.44 percentage points higher than in 2010.
To address population aging, China's State Council on Monday released a plan for the development of the country's elderly care services system during the 14th Five-Year Plan period (2021-2025). The plan specifies major goals and tasks for the five-year period, including expanding the supply of elderly care services, improving the health support mechanism for the elderly, and advancing the innovative and integrated development of service models.
Dozens of A-share listed companies have set foot in the elderly care sector, with real estate for the elderly, medical care and elderly care integration, as well as smart elderly care as the focuses of business arrangement. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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