Research On The Financing Issue Of China's Elderly Care Industry

The aging population is a common social problem faced by all countries in the world in the 21 st century.According to international standards,China has now become a fully aging country,and this trend of aging is still deepening,seriously affecting the sustainable and healthy development of the entire national economy.Under such a circumstance,the development of China's elderly care industry is imperative.The aging population is not only an important strategic opportunity,but also a great practical challenge for the development of the elderly care industry.Finance is an important cornerstone to support the development of the elderly care industry,and the financing for the elderly care industry is crucial.An impeccable financing system will help provide necessary financial support to meet the severe challenges of aging population and the growing needs of the elderly;promote the innovation of new products and services for the aged,improve the quality of services for the aged and enhance the welfare of the aged.The state also attaches great importance to the financing issue.The promulgation of a series of policies such as the 13 th Five-Year Plan for the National Development of the issue of Aging and the Construction of Elderly Care System has pointed out the direction for the top-level design of elderly care industry financing issue,and also represents that the elderly care industry will usher in great development space.At present,the financing difficulty and low efficiency of the elderly care industry are the important reasons that restrict the sustainable development of the elderly care industry.In the new era,how to explore the financing channels for the elderly care industry in line with China's national conditions is very important.Based on this,this article demonstrates the current financing situation of elderly care industry from macro and micro levels,objectively investigates key issues such as financing mode and financing efficiency,and explores scientific ways to solve the financing difficulties of elderly care industry on the basis of learning useful experience from foreign countries.From the view of theoretical significance,it is helpful to construct a theoretical framework of financing for the elderly care industry with Chinese characteristics through in-depth theoretical analysis and experience summary,and constructs a duopoly model to explore the optimal nationalization level in the financing of the elderly care industry,which is an expansion development of the duopoly theory in practical application.From the view of practical significance,providing specific financing advice for the development of elderly care enterprises and making suggestions for the formulation of relevant policies of government will help to break the restraint of the institutional mechanisms and comprehensively promote the financing development of China's elderly care industry.Taking China's elderly care industry as the research object,this article studies the related financing issues of elderly care industry under the background of aging population.The paper is composed of eight sections.The first section is the introduction.Firstly,it expounds the research background,theoretical significance and practical significance;secondly,it reviews the existing literature from three aspects: elderly care industry,enterprise financing and elderly care industry financing;thirdly,it reveals the research content,framework,ideas and methods of this article;at last,it puts forward the innovation points and existing shortcomings of this article.The second section is the theoretical basis.This part reveals its theoretical reference value of financing for China's elderly care industry mainly from combing the theory of enterprise financing,transaction cost and property rights.The third section is the overview of China's elderly care industry financing issue.This part is mainly to conduct a detailed study on some basic issues of China's elderly care industry.It has defines and interpreted the relative concepts of financing for the elderly care industry successively,pointed out the background and necessity of the financing development of elderly care industry,analyzed the financing environment of China's elderly care industry in detail and pointed out the existing outstanding problems at present.The fourth section is the financing mode selection of China's elderly care industry.Firstly,it points out that mixed ownership is an important direction for the mode selection of China's elderly care industry.Secondly,this article makes a comprehensive and detailed analysis from connotation,functions,shortcomings and other aspects of the current financing modes of the elderly care industry,including PPP,listed financing,bank loans,REITs,trust,government financial support,bonds,Internet finance,etc.At last,it reveals how to define the proportion of state-owned capital in financing mode selection under the background of mixed ownership development.The fifth section is the analysis of the financing efficiency of China's elderly care industry.Firstly,it introduces the method----three-stage DEA which is used to measure the financing efficiency of elderly care industry.Subsequently,the DEA efficiency of CSI pension index enterprises and new over-the-counter market pension enterprises from 2013 to 2017 is measured,and the financing efficiency of listed and new over-the-counter market pension enterprises in China is analyzed.The sixth section is written to refer foreign experience.It has combed the useful experiences of the developed countries such as the United States,countries in Europe,Japan,Singapore and Korea in the development of the elderly care industry and the financing of the elderly care industry,and points out the revelation of these experiences on the development of China's elderly care industry and its financing development.The seventh section is the countermeasures to promote the financing development of China's elderly care industry.This is the final destination of this article.The financing support system of China's elderly care industry is constructed from the perspectives of financing supply system of elderly care industry,policy support system,elderly care market and pension security system,and it put forward corresponding policies.The last section is the conclusion.This part summarizes the full text research and draws some conclusions,and it also puts forward the shortcomings of this article and future research directions.