China's rapid population aging and remarkable family‐level changes have raised concerns about the weakening of its family‐based elderly care. The last decade indeed has seen a clear departure from multigenerational living to alternative living arrangements such as living with spouse only and solo living. However, ample evidence suggests that Chinese families have demonstrated considerable resilience amidst profound sociodemographic changes. This review article highlights the importance of government–society cooperation in meeting the social challenges of population aging. A key factor is the persistient filial piety norms, which enable children living far or close, migrant or nonmigrant, to rearrange financial, instrumental, and emotional support to aging parents. Equally important is the step‐in of the government to share elderly care responsibilities, provide support through deepening pension and healthcare reforms, and implement the active and healthy aging agenda. How the two factors play out over the next decade and beyond will have profound implications on the living arrangement, intergenerational support, and wellbeing of older adults in China.

In 2021, China became an aged society when the share of its elderly population (age 65 years and above) exceeded 14%. In China, as in other upper‐middle‐income and high‐income countries, life expectancy gains are increasingly concentrated at older ages with below‐average health and economic activity. Governments worldwide are hence actively pursuing healthy and productive aging. Healthy aging by some measures is taking place. Similar with other upper‐middle‐income countries, China's young old in their 60s are healthier than the same age group two decades ago. The picture is more complex for the older age group (70 years and above). Although there is a substantial decline in leading disease burdens such as stroke and chronic obstructive pulmonary disease, diseases such as Alzheimer's and other dementia are on the rise. To meet the challenge of a rapidly aging population, China's healthy aging agenda should improve its multipronged approach that seeks to promote healthy lifestyles, enhance the healthcare system, create age‐friendly communities, and tackle socioeconomic and health disparities.