China will fully open its elderly care market by 2020, according to a guideline published by General Office of the State Council.

国务院办公厅日前印发的意见提出，到2020年，我国将全面放开养老服务市场。

The move will substantially increase the supply of products and services in the market, standardize¹ regulations and raise service quality, the guideline said.

意见称，此举将使相关产品和服务供给得以大幅提升，法规得以规范，服务质量得以提高。

Foreign investment in the sector² will be facilitated and administrative³ approval procedures simplified, it said.

意见提出，将为境外投资进入养老领域创造条件，精简行政审批环节。

The document also said the government would step up reforms of public elderly care institutions and build a credit system for the sector. Authorities would work to raise service quality of elderly care.

该意见还表示，政府将加强公共养老机构的改革，建立部门的信贷体系。有关部门将努力提高老年护理的服务质量。

The government would also adjust land, employment and finance policies to support the sector, the document said.

该意见称，政府还将调整土地、就业和财政政策，以扶持该行业。

China's aging society is a major social issue. There are currently more than 220 million people over 60 years old in the country, 16.1% of the population, with numbers growing.

我国的老龄化社会是一个重大的社会问题。目前我国60岁以上人口超过2.2亿，占总人口比重的16.1%，这两个数值还在不断上升。