China Boosts Silver Economy Amid Aging Population Surge

China's rapidly aging population, expected to reach 400 million people over 60 by 2035, is driving a significant shift in consumer spending known as the 'silver economy.' The Chinese government has aggressively promoted this sector through over 20 directives this year, urging companies to develop products and services tailored to older adults, such as health, nutrition, and senior care solutions. Affluent retirees like Wang Shuyun, who spends on premium nutrition courses, imported milk, and quality footwear, exemplify the growing market for upscale products among urban seniors. Research shows that consumer expenditure by households headed by people aged 60 and above is projected to grow 129% from 2015 to 2025, outpacing the general population's spending growth. However, many rural retirees subsist on modest pensions, limiting overall market potential, and economists caution that this silver economy alone will not resolve China's broader economic challenges, including deflation and weak demand from younger generations. Companies like Xiaomi and Ping An are adjusting their offerings to meet seniors' needs, recognizing the opportunity but also the constraints posed by economic uncertainties.