The aging population is an important national condition throughout the 21st century in China. Since the notion of senior citizens service industry was first put forward by the government in 2006, the service industry of the aged in our country has grown gradually in the process of exploring the development mode with Chinese characteristics. In particular, since the 13th Five-Year Plan, China has made some breakthroughs in the reform of senior citizens service industry. However, the development of China's senior citizens service industry, on the whole, is still in its infancy. Hence, clarifying the reasonable boundary between "undertaking" and "industry" in its attribute, that of between the "limited rights" and "effective rights" in government functions and that of between "family function" and "social function" in the system framework, as well as that of between "dynamic adjustment" and "continuity" in macro-policy are key issues to be clarified in deepening the reform of China's senior citizens service industry. In the face of new trends and new requirements, China, taking the reform as the main line, has to pave a realistic foundation, focus on the demand structure and development trend, and speed up the development of a sound senior citizens service system with Chinese characteristics.