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China had more than 230.8 million people aged 60 or above at the end of 2016, 16.7 percent of the total population, according to the Ministry of Civil Affairs. The country's elderly will account for about one-quarter of the population by 2030.

China encourages domestic enterprises to expand investment in South Asia, build industrial parks there and push forward cooperation in major projects, Hu said, adding it will boost interconnectivity with South Asia through infrastructure projects.

China has introduced 26 opening-up measures, including allowing foreign institutions to independently run economic and technological exhibitions, and supporting more overseas professionals to start businesses in the country, to spur innovation in the services trade, said the Ministry of Commerce on Wednesday.

China has also improved the social security system for persons with disabilities, made rehabilitation universally available to them, ensured their right to employment and given strong support to creating an accessible environment and providing assistive appliances, the white paper said.

China has opened the door in areas such as credit rating services and has eased restrictions on allowing foreign banks underwriting government bonds.