The changes in population structure due to low fertility and aging are bringing about significant changes throughout society and the economy in China. In particular, as the number of senior citizens increases, the elderly-friendly industry, which provides products or services necessary to satisfy the physical and mental needs of the older adults, is expected to grow rapidly. In response to the problems of population aging, the Chinese government has been trying to meet the senior citizens’ desire for products and services by focusing on fostering elderly-friendly industries while increasing the fertility rate by easing the birth control policy. Despite such policy efforts, the effect of supporting the development of senior-friendly industries is considered to be minimal. With the recent demand for caregivers, household chores, healthcare and cultural and entertainment services for the senior citizens, the Chinese government is focusing on building infrastructure for elderly-friendly industries by fostering the service industry for them. Therefore, based on an understanding of China’s age-friendly industry policy macroscopically, this paper aims to examine the policy of supporting the development of the elderly service industry in detail.