The global population is aging at an unprecedented rate, and China is at the forefront of this demographic shift with its rapidly growing silver economy. According to the United Nations Population Division, the percentage of people aged 65 and over worldwide has doubled from 5.5 percent in 1974 to 10.3 percent in 2024, with projections showing it could reach 20.7 percent by 2074.
In response to this trend, China's silver economy is set to become a significant force in the global market. Experts predict that by 2035, the silver economy will expand to 30 trillion yuan, representing 10 percent of China's GDP. This marks a substantial increase from the 7 trillion yuan (approximately $974 billion) recorded in 2024.
As the demand for products and services tailored to the needs of an older population grows, businesses and policymakers in China are leveraging this opportunity to innovate and invest in sectors such as healthcare, retirement housing, and leisure activities. This growth not only boosts China's economic landscape but also positions the country as a key player in addressing the challenges and opportunities presented by a global aging society.
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Graphics: China's silver economy grows amid global aging trend
cgtn.com
