Nursing care services for aged to generate 500 billion yuan by 2020

09:14, February 15, 2011      

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Nursing care services for Chinesesenior citizens are expected to bring about over 500 billion yuan ($75.86 billion) of revenue, creating 7.1 million new jobs in the country by 2020, according to a draft proposal published by China's Ministry of Civil Affairs Friday.

By the end of 2015, China will basically build up a complete system of old-age security service, which aims to be a healthily-operated, properly-supervised and sustainable system, said the draft.

The system will cover majorly three aspects when concerning the care-taking of senior citizens: home-based care for the aged, community-based care for the aged and institution-based care.

The government will provide capital support and facilities for families and related institutions to make sure that most of the aged people in need of care can receive some, financially or in other aspects.

The number of senior citizens in China till 2015 will be 215 million, which is about 15 percent of the total population, while the year 2020 will see 243 million senior citizens in the country.

Source: Global Times
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