Business opportunities as China orders country to prepare for the ageing society

Ten ministerial-level departments, including the ministries of civil affairs and education, have released a circular stressing the importance of building an age-friendly society.

Foreign and local businesses alike should read this as a laundry list of potential business opportunities. chinas-aging-population

According to this article in, the circular called for;

  • Government agencies and non-governmental organizations (NGOs) to carry out more voluntary services for the elderly and encourage the young generation to be more aware of seniors’ needs and concerns.
  • Accelerating development of industries serving the demands and convenience of the elderly, such as nursing homes and adult education classes.
  • Elderly citizens should not be regarded as burdens but valuable human resources for the sustainable growth of the economy, according to the circular.
  • Encourage the elderly to participate in various social activities, such as teaching in schools or helping with scientific research, in order to give them a sense of satisfaction while also promoting social harmony and the economy.
  • Establishment of a national elderly care system, strengthening social security for the elderly and improving laws that protect the rights and interests of senior citizens.

One thing we know for sure about China; what it says, it does.