Develop silver economy to lift well-being of seniors

China has prioritized safeguarding the safety and well-being of its citizenry in recent years. The State Council Information Office said the 60-and-above population exceeded 310 million by end-2024, accounting for 22 percent of its citizenry. To address the expansion of the senior demographic, the recommendations for formulating the 15th Five-Year Plan (2026-30) — adopted at the fourth plenary session of the 20th Communist Party of China Central Committee — propose to "actively address population aging" and "develop the silver economy".

The silver economy carries great significance for the national economy. A report by the Institute on Aging at Fudan University estimates that by 2035, the size of the silver economy will reach 19 trillion yuan ($2.72 trillion), accounting for 28 percent of total consumption and nearly 10 percent of GDP. Better developing the silver economy can be realized through a series of practice approaches.

Bolstering online learning

Currently, a digital wave has influenced lifestyles among seniors. The 56th Statistical Report on China's Internet Development said the number of internet users aged 60 and above had reached 161 million as of June 2025, accounting for 14.4 percent of all its internet users, and about half of seniors were using the internet. Enhancing the digital comfort level of seniors and helping them bridge the digital divide have gradually become key moves to achieve the goals of caring, supporting, entertaining and comforting them in the digital era.

The Aging Lab at Beijing Normal University has conducted special research into online learning and the mental health of the silver-haired demographic. It showed that online learning can meet the basic psychological needs of older adults in three aspects: independent choice, competence improvement and social connections, helping them in improving their cognition, emotional and social health.

Statistics show that by 2030, the market size of China's senior education sector is expected to reach 1.2 trillion yuan. Internet platforms and various aspects of society need to continuously optimize aging-friendly design and learning support, and improve community interaction and emotional care mechanisms.

Guiding senior consumption

Seniors, especially retirees, once served in various posts with rich experiences, skills and untapped passion. Now most of them have more free time, and respectable spending power. Besides attending online studies, they can also engage in leisure travel. In addition to domestic tourism, expanding visa-free policies abroad also allow Chinese seniors to venture overseas. Data from the China National Committee on Aging show that the number of tourists aged 60 and above in China has accounted for over 20 percent of the total number of tourists, driving the silver tourism market to reach a scale of 1 trillion yuan.

In addition, they are more economically free to buy goods and services. The China Internet Network Information Center said in its "Digital Consumption Development Report (2025)" that in the first half of 2025,China's total digital consumption reached 9.37 trillion yuan. Data show that there are 117 million digital consumption users aged 60 and above, accounting for 12.2 percent of the total digital consumers. Rural digital consumers also reached 249 million, taking up 26 percent of the total.

Guiding senior consumption habits is thus of immense significance in boosting the country's economy. For example, Beijing Hongsong Online Technology Co Ltd has explored four core businesses — Hongsong APP, silver-haired interest learning, silver-haired culture and tourism, and silver-haired consumer products — to focus on older adult clients, and has drawn over 1 million paid users during the past few years.

Enhance scitech innovation

The recommendations for formulating the 15th Five-Year Plan propose to deepen the construction of a digital China and use artificial intelligence to lead the paradigm shift in scientific research. Using "AI+" and better science and technical innovations to promote internet learning and consumption can lead seniors' total consumption to a higher level.

With scitech advances in China, more tools such as robots can help relieve seniors from daily chores and healthcare related tasks, and give them more free time. The potential demand for smart-tech solutions for senior citizens in China is huge. The 11th Beijing International Aging Industry Expo, held between Oct 29 and 31, drew over 200 enterprises to showcase their solutions. A report from economic analyst CIC Consulting even estimated that China's smart eldercare market hit some 11 trillion yuan by 2024.

Meanwhile, better medications and advanced senior-adapted medical facilities should be advanced to aid older adults.

Solving bottlenecks

While most older adults can enjoy happy golden years, problems facing them are still lingering — such as burdens in caring the grandchildren and cooking, difficulties in obtaining medical treatment, and schemes meant to cheat seniors out of their cash savings. Moreover, as the aging demographic expands, the number of disabled and semi-disabled seniors is also rising, and how to tend to them has become a major challenge for older adults and their families.

In developing the silver economy, bottlenecks facing seniors cannot be ignored, and need all-around solutions. This will involve the entirety of societal participation.

Boosting older adults' care services and industries can be bolstered through hardware (infrastructure and legal systems) and software (services).

The Ministry of Civil Affairs said a senior-friendly social environment is improving nationwide in terms of social participation, safeguarding their legitimate rights and interests, and building an older-adults-friendly society. And during the 14th Five-year Plan (2021-25) period, the country had formed a comprehensive legal framework for older adults, covering such key areas as eldercare services and social security.

For example, in Shanghai's Pudong New Area, the area's civil affairs bureau director Zhang Hong said the region is striving all out to develop its silver economy, and as of end-2024, its population aged 60 and above hit 1.13 million, with an aging rate of 33.47 percent. So it has established a comprehensive network involving institutions, communities and home-based eldercare services, with 182 eldercare institutions offering over 36,000 eldercare beds, and more than 2,000 community eldercare facilities, ranking first in Shanghai.

In Guangdong province, the number of its permanent residents aged 60 and above hit 18.99 million by end-2024, with an aging rate of 14.86 percent. So the province has established a policy guarantee and social security system to ensure their sense of security, and promoted the coordinated development of industries in the public sector to support them.

All these have helped to "actively address population aging" and "develop the silver economy", and allow senior citizens to live longer, healthier and happier lives in China. By better developing the silver economy, the well-being and happiness of seniors in China can be largely enhanced.

Peng Huamao is a professor at the Faculty of Psychology at Beijing Normal University; Xiao Junhua, a doctoral candidate at BNU Faculty of Psychology; and Wang Yang, a master's candidate at BNU Faculty of Psychology.

The views do not necessarily reflect those of China Daily.