Guangdong is to take down a variety of access barriers in the market for elderly care, according to Xinhua.
Most importantly, a registration and filing system will replace the current license system, which should lower the threshold for setting up elderly care institutions.
With a rapidly greying population, the reform of elderly care has been a growing priority for the country in recent years. Guangdong currently has 163,800 elderly care institutions and facilities offering 7.46 million beds for senior citizens. Given the province’s population of more than 120 million, that is clearly inadequate. The market has been highly regulated until now, however. It is expected to be fully opened to the private sector by some time next year.