China has issued guidance to all provinces to build a basic elderly care system by 2025, state-run Xinhua news agency said on Sunday, in the latest step to prevent a demographic crisis.
policymakers face as they deal with the country's first demographic downturn since Mao Zedong's Cultural Revolution.
"Promoting the construction of the basic elderly care service system is an important task for implementing the national strategy of actively responding to population ageing and achieving equalisation of basic public services," Xinhua said. Services included material assistance, nursing and care-giving, while all provinces must provide visiting and caring services for elderly living alone and for families with financial difficulties.
Costly nursing homes are out of reach for many elderly, while public options are often not suitable or desirable to live in, leaving a gap in the market for affordable quality retirement lodging, investors said.
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