China will prioritize market-driven innovations to strengthen its elderly care sector, Civil Affairs Minister Lu Zhiyuan announced during a press conference at the annual Two Sessions parliamentary meetings in Beijing. The initiative aims to address the needs of the country's rapidly aging population by scaling services, encouraging industry clusters, and fostering brand development through public-private partnerships.
Lu emphasized the government's commitment to 'leveraging market resource allocation' while supporting diverse market entities. Analysts suggest this approach could create opportunities for domestic and overseas investors in healthcare infrastructure, technology-driven care solutions, and workforce training programs.
With over 20% of China's population expected to be aged 60 or older by 2035, the policy shift reflects broader efforts to balance social welfare demands with sustainable economic growth. The announcement aligns with recent measures to improve pension systems and digitize senior care services across urban and rural areas.
