During the Peak Forum of Aging Population and Contemporary Society Development held from November 7th to 9th, 2008, Lu Jiehua, Professor with Sociology Department of Peking University, said that the general purchasing power of the old people in China will reach RMB 1,000 billion in 2010, however, the annual total value of products supplied to the old is less than RMB100 billion at present.

Statistics shows that the number of retirees in China in the year 2000 is about 60 million. Thus their pension from the government and estovers from the family are able to afford RMB 400 billion’s products and service. The consumption demand of the old people in China is about RMB 600 billion in 2005, while the number in 2010 will reach RMB1,000 billion.

Statistics from National Ageing Committee shows that currently the total value of products supplied to old people is less than RMB100 billion annually. “To look from the industry for the aged, neither the scale of products and service, nor the styles of products and service have evolved obviously since the boom of the industry for the aged in China at the end of 1980s.