As the population of the Chinese mainland ages rapidly, the elderly care industry is emerging as a significant driver of socioeconomic development. This 'silver economy' is not only addressing the growing needs of senior citizens but also creating new opportunities across various sectors.
Healthcare services, real estate, and technology are among the primary beneficiaries of this shift. With the increasing demand for specialized care facilities and innovative solutions to support the elderly, these industries are experiencing substantial growth.
Gen Z and Millennials are at the forefront of this transformation, bringing fresh perspectives and digital savvy to the sector. However, their entry into the elderly care industry also presents unique challenges, including the need for specialized training and adapting to the demands of caring for an aging population.
Cheng Haijun, a professor at Beijing College of Social Administration, highlights that the elderly care industry not only boosts employment opportunities but also contributes significantly to the overall economic growth of the Chinese mainland. \"The integration of young talent into this sector is pivotal for sustainable development,\" Cheng explains.
Reference(s):
How the elderly care industry boosts economic growth in China
cgtn.com
