Health is considered an important determinant of economic growth and competitiveness. The health of the elderly population determines its need for resources and care. Investing in healthy aging contributes to economic and social well-being. This study reviews literature on the social and economic aspects of healthy aging. It summarizes alternative approaches in literature to ease pressures of a rapidly growing aging population. Literature refers to China’s aging population as a ‘ticking time bomb’ which is paradoxically both a challenge and an opportunity for the country. This study’s main focus is on strategies for healthy aging, policy practices, organizations and resources for promoting healthy aging in China. It uses up-to-date theories and methods applied to household surveys and population statistics to quantify the problem, generate an idea of the resource requirements and possible benefits of specific policies and measures aimed at healthy aging. It draws conclusions with respect to the conditions of healthy aging in China and what the state policy for this is.