January 17th (AMSP/CGTN) – – As the global population ages, China’s silver economy is emerging as a key player in the global market. According to the United Nations Population Division, the proportion of people aged 65 and above worldwide has risen from 5.5 percent in 1974 to 10.3 percent in 2024, with projections indicating it will double again to 20.7 percent by 2074.
In China, the silver economy is expected to grow to 30 trillion yuan by 2035, accounting for 10 percent of the country’s GDP, up from 7 trillion yuan ($974 billion) in 2024.
This growth is fueled by an aging population and increased consumption among older adults. In 2023, nearly 81,000 businesses related to the silver economy were registered, marking a 27 percent year-on-year growth.
A significant shift is also evident in consumption habits, with 329 million older adults using the internet and spending an average of 129 hours per month online. Older users are actively engaging in short videos, e-commerce, and instant messaging, signaling a rise in digital consumption.
While China’s silver economy faces challenges, policy support, such as the 2024 government initiative to boost the sector, points to a promising future.
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CGTN