How do policies promote the sustainable development of older-adult care industry? A configuration analysis based on policy tools

Background: Under the background of population aging in China, the demand for older-adult care services and products is growing, and the older-adult care industry has great development prospects. A sound older-adult care policy system, that is, an effective policy tool mix, plays an important role in improving the sustainable development of older-adult care industry.

Materials and methods: Based on older-adult care policy documents from 31 Chinese provinces, this research extracts older-adult care policy tools via text mining. Then extracted policy tools are taken as conditional variables, and the development of older-adult care industry, which is manifested by the number of older-adult care companies across 31 regions is taken as the result variable. Through applying qualitative comparative analysis, the combined effect of different policy tools on the development of older-adult care industry is obtained.

Results and discussions: Results show that a single policy tool cannot constitute the necessary condition to facilitate the older-adult care industry. Hence, policy tools should be applied in combination. Five sustainable policy tool mixes which can promote the development of older-adult care industry are summarized, namely supporting policy-driven mode, fiscal and tax support mode led by supply-oriented policy tools, double-team mode driven by fiscal and tax support and the consumer market, multi-subject joint force mode, and technology compensation mode. The overall findings of this study imply that exploring the policy tool combinations is of vital importance to the sustainable development of older-adult care industry.