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And that’s why an increasing number of institutions have jumped on the bandwagon. A number of insurance companies and property developers have already developed similar communities for the aging population.

And through its indefatigable people.

An official with the department, who declined to be named, said there is an urgency to introduce more measures this year amid rising uncertainties of global economy and rising costs for production, the latter of which is posing greater challenges for China's traditional heavy industries.

Anhui province, for example, has been granted incentives and encouragement in its effort to nurture strategic emerging industries for two consecutive years. In 2017, strategic emerging industries in Anhui grew by 21.4 percent, contributing 31.4 percent of the province's total industrial output growth. Zhoushan in Zhejiang province－where the city's private investment grew by 23 percent in 2017 －has received such awards for two consecutive years for issuing corporate bonds.

Analysts said since the effect of tightening measures will be felt in first- and second-tier cities this year, lower tier cities are expected to outperform major cities in 2018.