Please help me with correcting my short essay

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Hi,
This is my short essay, I hope it make scene.
Please correct my mistakes.I am a beginner student.

Taking care of our elderly was always been an important duty of our life because they had cared us when we were child and we must make a serious plan to respect and honor them.
Recently in china people is face a new challenge of  elderly care because aging population is in a increasing rate unlike birth rate and aging population will create some problems for the society.
On of the reasons of creation of this phenomenon is for one-child strict policy that had been run for many years in china, this rule made the the birth rate in a danger rate.
So what happened is one person should take care of either his parents and grandparents but who can afford it?
China must find a way to solve this issue, otherwise it have to set a big budget to take care of their elderly in the future.

Regards,
Mohammad

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