China had 202 million people over the age of 60, accounting for 14.9 percent of the country's population in 2013, according to the China Report on the Development of the Silver Hair Industry, which was released by Chinese Research Center on Aging in September this year.
The senior care industry in China is estimated to produce a value of 4 trillion yuan ($651 billion) in 2014, up to 8 percent of the country's GDP. The report said the percentage would climb to 33 by 2050.
As the aging population is still growing, China is more engaged in boosting the elder care industry in the domestic market, something stressed at the third International Old-age Services Expo in Hangzhou city, East China's Zhejiang province.
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An elderly man experiences stair climbing through the use of a special wheelchair at the third International Old-age Services Expo in Hangzhou city, East China's Zhejiang province, Nov 13, 2014. [Photo/Asianewsphoto] |
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