REGIONAL> Society
Domestic market for the elderly keeps growing
By Zhu Chengpei and Zhang Xiaomin (chinadaily.com.cn)
Updated: 2008-10-23 17:53

The domestic market for the elder population will grow steadily in the coming decades, providing more business opportunities, said Li Bengong, chairman of the Gerontological Society of China on Thursday at the opening ceremony of the 5th Senior Health & Lifestyle Expo in Dalian, northeast China’s Liaoning province.

“China has already become an aging society. The elder population is expected to grow from the current 150 million to 430 million by 2050. A large elder population will bring a huge consumption demand,” said Li.

The four-day expo, which aims to promote the development of the elderly care industry, attracts more than 200 enterprises, including nearly 50 foreign enterprises from Japan, Denmark, and other four countries and regions.

“China lags behind these countries in developing the elderly care industry. Our society should care more about the senior citizens and provide them better user-friendly products and services,” Li said.

The products exhibited in the expo range from foods, health products, and medicines to facilities and daily necessities.

“People in my age care about our health most. I am glad to find that there are so many hi-tech products in this exhibition. But I hope that the prices can be a little lower so that more people can afford it,” said 68-year-old Gong Shixiang, who was experiencing a feet sauna pail at the expo.

Gong's words were echoed by Chen Deyi, a salesman of the pail.

“More and more senior citizens are concerning about their health. It makes a bright future for the elderly care industry,” Chen said.