Today is the first day Australia Week in China. The Australian Government has sent a delegation with expertise in health and elderly care. Their aim is to explore emerging trends and business opportunities, and to help China enhance its service delivery in the sector.

A delegation of more than 1,000 Australian business people constituted the country's "largest ever trade mission" to China.

The visit comes hard on the heels of the China-Australia Free Trade Agreement, which came into force last December.

In the Chinese capital, the health and elderly care industry is where their special focus is trained.

“There are already a lot happening in research... ” said Bruce Gosper, CEOof Australian Trade Commission.

“China is now undergoing a massive transformation...” said Tucson Dunn, managing director of Healthcare Holdings, Fosun Group.

Ageing populations around the world are creating new opportunities and challenges for governments, healthcare systems, social services and cultural traditions.

China has a rapidly ageing population -- with more than 130 million people aged 65 years or above -- that's 10 per cent of the total population.

China is investing heavily in health and aged care, with expenditure expected to reach 6.5 to 7 per cent of GDP by 2020. Experts say that there are enormous opportunities for cooperation between the two countries.

“China has very advanced hardware and facilities in the healthcare industry but we are lagging behind in software and staff training,” said Chuyang Liu, counsellor of Australian Trade Commission.

“Massive opportunities..there are so much we can bring from Australia,” said Lisa Hee, executive manager of Elite Health Australia.

According to China-Australia Free Trade Agreement, for health and aged care services, China will permit Australian service suppliers to establish profit-making aged care institutions throughout China, and wholly Australian-owned hospitals in certain provinces.

Australian-owned aged care institutions can now partner with Chinese firms across China to help develop the aged care industry and improve the healthcare system.