Long-term care insurance has driven over 60 billion yuan of social capital investment in related industries.

The State Council Information Office held a press conference this morning (March 26) to introduce the progress of establishing a long-term care insurance system. The head of the National Healthcare Security Administration stated that for people with disabilities, establishing long-term care insurance is a necessity. Professional care can greatly improve the quality of life for disabled individuals, and it can also reduce the dual burden of economic and caregiving responsibilities for families. For the industry, long-term care insurance means “driving” the development of related sectors. The establishment of this system has created demand for new business models and formats, such as the research and production of assistive devices, assessment of disability levels, and social participation in management, all of which can generate new economic growth points. According to preliminary statistics from the healthcare security department, since the pilot program began in 2016, long-term care insurance has attracted over 60 billion yuan in social capital investment in related industries. (CCTV News)