China’s elderly service-related enterprises have increased 13 times in 10 years

According to data from the China Research Center on Aging, the value of China’s aging industry will exceed 100 trillion yuan by 2050.
At that time, it will account for more than one third of GDP, and there is huge room for the development of related industries.

According to data from the China Research Center on Aging, the value of China’s aging industry will exceed 100 trillion yuan by 2050.

At that time, it will account for more than one third of GDP, and there is huge room for the development of related industries.

According to China News Service, as of the end of June 2019, there were 29,900 elderly care institutions in China, 143,400 community elderly care services and facilities, and a total of 7.353 million elderly care beds. The quality and level of elderly care services have also been continuously improved.

Data from Tianyancha Professional Edition shows that in the ten years from 2010 to 2019, the total number of Chinese enterprises with “senior care” in their name or business scope has increased from 9,500 to 124.7 thousand, a 13-fold increase.

Specifically, the growth rate of China’s elderly service-related companies has increased significantly since 2013, and the growth rate reached its peak in 2016, reaching 49.68%.

Although the growth rate has slowed since then, it has remained at more than 30%. In 2019, there are nearly 32,000 new companies related to pension services.

According to the data of the professional version of Tianyancha, there are 460 enterprises in China’s existing pension service-related enterprises whose business scope involves “intelligent senior care” or “smart senior care”.

Guangdong Province, Anhui Province and Jiangsu Province are the three provinces with the largest number of smart elderly care-related enterprises.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/26/china-s-elderly-service-related-enterprises-have-increased-13-times-in-10-years/.

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