Source: China State Council Information Office 2
China will make further moves to enrich products and improve their quality for the country’s growing elderly population.
The country’s elderly product sector might exceed 5 trillion yuan (about $720.8 billion) in 2025, according to an official guideline on the development of products for the country’s senior citizens.
The government will optimize the market environment for the industry, covering clothing, elderly care products and rehabilitation equipment as well as other fields.
Technology innovation will be enhanced along with the increasing supply of related products and services. Smart auxiliary products such as household chores robots will enjoy development support, the guideline said.
Official data showed the number of people aged 60 or above expanded by 4.39 million to account for 18.1 percent of China’s total population in 2019.