Richard said China and France have been deepening cooperation in medical and healthcare, and French companies have achieved remarkable progress with Chinese partners since the signing of the ministerial-level memorandum of understanding on senior care between China and France last year.

Orpea, a global leader in long-term elderly care with French roots, has been actively embracing business opportunities in China.

The company offers services in nursing homes, rehabilitation hospitals and home care services worldwide; and in China, it operates two projects - in Nanjing, capital of Jiangsu province, and in Changsha, capital of Hunan province.

Nathaniel Farouz, CEO of Orpea China and Singapore, said he is impressed with the Chinese government's efforts in boosting the industry development for quality elderly care, including the practice of combining medical services and nursing care.

The broadening market access for foreign players will help the sector to prosper, he said.

Li Congrong, vice-president of Hualu Senior Care and Health Management Co Ltd, a Beijing-based State-owned enterprise, said Chinese authorities have been actively adjusting policies to create a favorable environment for the development of the senior care industry.

His company took only four years to grow into a competitive player in the market, reflecting the rapid development of the overall industry, he said.

However, he said it is important to establish detailed industry standards to ensure healthy development of the industry.