Lawmakers in China are planning to fully open the country's elder care market in order to meet the vast demands of senior citizens.

According to a report presented to the National Police Congress (NPC), the lack of development in the industry has failed to address the huge demand of senior citizens.

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A group of lawmakers, led by Wang Shengiun, Vice Chairman of NPC Standing Committee, based their report on studies about how laws on protection of the senior citizens' rights had been implemented. The report said that facilities for senior citizens are deficient and active ones are not well utilized.

Most old people are left alone at home, while their young relatives go to different cities in search of business. This situation is worse in rural areas.

The report included a proposal that more non-government forces should be allowed to enter the sector to invest funds, including overseas investors.

It also suggests that lawmakers should encourage banks to supply more loans for the elderly care market. Governments at all levels must apply the national strategy for senior citizens and teach more staffs, it said.

In 2014, China had 212 million people aged at 60 or above representing about 15.5 percent of its total population. This is expected to rise in the year 2020, to reach 243 million.

TagsChinese lawmakers, Elderly care market, Senior citizens, NPC, Wang Shengiun