Following its deep commitment to filial piety, Chinese society
has long exalted multi-generation households. The current elderly
and healthcare system reflect this cultural practice, relying on
elderly individuals' family members to provide care and
financial support.
However, as the country's economic, migratory and working
patterns change against the backdrop of an ageing population, the
new demand for quality elderly care has set off the rapid
privatisation of China's elderly care industry.
In 2021, 18.9% of China's population was over the age of 60,
around 267.36 million people. And there are 20.56 million of the
population over the age of 65, accounting for 14.2 per cent. This
meant that there were 2.37 working-aged persons for every one
retired person. In 2050, the ratio is expected to drastically drop
to 1.82 working persons for every one retired person. Furthermore,
currently, 180 million Chinese seniors suffer from chronic
diseases, and over 15 million
