China targets innovation-driven silver economy to address aging population

China is facing rapid population aging, with the population aged 60 and above projected to reach 323 million by 2025, accounting for over 23% of the total population. This demographic shift is reshaping consumption structures, public service demands, and industrial directions.

To address this, experts suggest transitioning the ‘silver economy’ from factor-driven to innovation-driven development. This involves using technological innovation to expand the supply of elderly-oriented products, model innovation to optimize care services, and institutional innovation to remove systemic bottlenecks.

The development strategy focuses on two paths: upgrading traditional industries—such as construction for age-friendly home modifications and medical services for health management—and cultivating emerging industries, including elderly intelligent monitoring equipment and care robotics. The goal is to better match supply and demand by addressing the specific needs of the elderly, such as healthcare, long-term care, and specialized financial services.