Increase in the senior population means a decrease in labor force, but brings great business opportunities for companies providing related services, Li Jiabao reports

The fast expansion of China's elderly population will severely challenge the nation's economic restructuring process because of the decrease in its labor force and the lackluster coverage of its social security system, officials said.

But the increase in the aging population also means great business opportunities for companies providing senior care services, because the world's second-largest economy is on track to expand domestic demand to maintain sustainable growth, experts added.