Recently, the Central Committee of the Communist Party of China and the State Council issued the "Opinions on Deepening the Reform and Development of Elderly Care Services", which systematically deployed the development of China's future elderly care service system, clearly proposed to "give full play to the role of market allocation resources in the development of the elderly care service industry", fully tap into market vitality, support various market entities to actively participate in elderly care services in accordance with market-oriented principles, and promote the scale, clustering, and branding development of the elderly care service industry. The development of elderly care services in our country cannot be separated from the participation of the government, market, and society. Enhancing the market vitality of the elderly care service industry, forming an effective supplement and mutual promotion to the government led elderly care service industry, is of great significance for meeting multi-level elderly care needs and promoting the development of the silver economy. Since the 18th National Congress of the Communist Party of China, the system of elderly care services in China has accelerated its improvement, and the fairness and accessibility of basic elderly care services have continued to improve. A multi-level and diversified supply pattern for elderly care services has also been formed. To further optimize and improve the supply pattern of elderly care services, on the one hand, we can actively cultivate diverse market entities, guide social forces to participate widely, and encourage various market entities such as state-owned capital, foreign investment, and private capital to enter the elderly care service market through preferential policies such as fiscal and tax support, investment and financing support, and land support. We can use various modes such as public and private construction, government procurement, etc., adhere to the direction of supply side reform in the elderly care service industry, and form a multi-level, multi-channel, and diversified elderly care service market; On the other hand, it is necessary to continuously improve the policy and regulatory system, industry standard system, and institutional credit system related to elderly care services. By formulating standards for the management and service of the elderly care service industry, implementing a comprehensive evaluation and reporting system for elderly care institutions, and promoting high-quality development of the industry. With the deepening of population aging and the continuous maturity of the service industry, elderly care services are also growing and expanding. It is not only a fundamental, inclusive, and bottom line public service, but also an elderly care industry with enormous development potential, which can become an important component of high-quality economic development. The government led elderly care industry is a non exclusive and non competitive public or quasi public product aimed at meeting the basic elderly care needs of all elderly people. The elderly care industry with enterprises as the main supply body is more flexible and diverse. If its market allocation effect can be fully utilized, it can not only accurately meet the needs of different levels, but also promote the deep cultivation and exploration of elderly consumption from aspects such as life care, rehabilitation care, cultural entertainment, and health science. It can also promote innovation in elderly care models from the supply side, accelerate the application of new technologies in intelligent elderly care services, attract talent, resources and other factors to flow in, promote the high-quality development of the elderly care service industry, and provide diversified and personalized services and products for the vast elderly population. Furthermore, the prosperity of the elderly care service industry market is conducive to promoting the scale and cluster development of the entire silver hair industry, extending the industrial chain, driving the development of upstream and downstream related industries such as research and development and manufacturing of elderly products, elderly care real estate, health care and travel, and health management, thereby creating more employment opportunities and injecting new impetus into economic growth. Currently, digital technology empowers the emergence of new forms of elderly care. New technologies such as artificial intelligence, the Internet of Things, and big data have been applied and developed in the elderly care service industry, and intelligent elderly care services and products have promoted the comprehensive improvement of the quality and efficiency of the elderly care service industry. As the aging trend of China's population continues to strengthen, the consumer group of elderly care services will continue to expand, the rigid demand for elderly care services will continue to release, and the elderly care service industry ushers in an important period of opportunity, but also faces challenges in terms of unbalanced supply and demand structure, long return on investment cycle, lack of professionals, uneven service quality, insufficient effective demand, and so on. In the future, the demand for elderly care services in China will continue to expand, and the requirements of the elderly population for the quality of elderly care services will also continue to increase. It is necessary to make a positive response from the supply side, take the coordinated development of the elderly care industry and the elderly care industry as the basic idea, adhere to the high-quality development of elderly care services, and give full play to the decisive role of the market in resource allocation. Firstly, it is necessary to handle the relationship between the government and the market correctly, clarify the boundaries of responsibilities between the government and the market, establish an information sharing and communication mechanism between the government and market entities, and achieve resource allocation and efficiency improvement through market mechanisms. Secondly, we need to promote industrial integration and continue to promote the integration and development of the elderly care service industry with related industries such as medical care, rehabilitation, nursing, home economics, tourism, culture, and sports. We can reduce costs through large-scale operations, integrate resources through cluster development, and enhance market competitiveness through branding. Once again, encourage the application of new technologies and innovation in service models, promote the development of smart elderly care services and products through financial subsidies, tax incentives, industrial planning, financial support, and other means. Encourage cross industry cooperation between technology enterprises and elderly care services, explore various forms of new elderly care service models, and meet the increasingly diverse elderly care needs of the elderly. Finally, unleashing the potential of elderly care consumption can be achieved by improving the elderly care consumption environment, optimizing the layout of elderly care consumption facilities, strengthening the quality supervision of elderly care services and products, safeguarding the consumption rights and interests of the elderly, enriching the types of elderly care services and products, thereby enhancing the consumption enthusiasm of the elderly and cultivating and activating the demand for elderly care. Developing the elderly care service industry is an important measure to actively respond to population aging. Only by fully leveraging the role of market allocation of resources can we open up new opportunities for the development of the elderly care service industry and truly meet the needs of the elderly for a better life. (New Press) (Author: Yang Ge, Associate Researcher at the Institute of Population and Labor Economics, Chinese Academy of Social Sciences)