China’s top negotiator with Taiwan, Chen Deming said that both sides can work together on the elderly care market in China. Chen was speaking on Tuesday at Taiwan’s Chang Gung University forum on cross-strait elderly preventative healthcare and nursing.
Chen said Taiwan has superb medical technology and services and has entered an aging society earlier than China. China already has a population of 200 million who are over 60 years old. That number is estimated to exceed 300 million in 2025. Chen said that is a huge industry and both sides should work together to develop it.
“I hope that we can come up with some ideas about how to work together through our discussion, because this is a huge undertaking in China," said Chen. "Now income per capita in China is US$8,000. Very soon that will exceed US$10,000 in two years. Elderly care can be a business taken up by society and the government together.”
Chen said China has opened up its elderly care service market to the world and the same market is open to Taiwan as stated in the cross-strait trade in services agreement. The agreement was signed in 2013 but is currently waiting to be ratified by Taiwan’s legislature.
Chen also met with Taiwanese young entrepreneurs. Looking from the perspective of the global economy and regional development, Chen said the pairing of Taiwan and China would be the strongest match in the world. Both sides can benefit from China's broad market and Taiwan's innovative strengths.