China announced it would make it easy for investors of elderly care facilities and services to do business in China. In a State Council statement, Premier Li Keqiang said that the Chinese government would be simplifying procedures for foreign and private investors focused on caring for the elderly. It would also cut administrative fees for such industries that would do business in the mainland.
As China's population continues to grow, the country's policy makers are finding strategies to cut the cost of caring for them.The population of the elderly age sixty years old and above is approaching 200 million.
The State Council also added that it would also set up day care centers for the aged. For old people in need, Chinese authorities would cut down on admission fees in elderly care centers. By 2020, China also intends to build a comprehensive support network for its seniors. Officials had plans to increase the number of beds in care facilities by 2015. Currently, there are only 20 beds per 1,000 elderly people. The government wants to boost the number of units to 30 per 1,000.
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