Jiangsu Province in East China has recently unveiled an ambitious plan to promote the high-quality development of its silver economy, responding proactively to its rapidly aging population.
As one of China’s provinces with the highest proportion of elderly residents, Jiangsu was home to nearly 21 million people aged 60 and above by the end of 2023. This demographic shift presents vast consumption potential.
The silver economy encompasses a wide range of economic activities aimed at providing products and services for the elderly.
Jiangsu aims to develop a comprehensive industrial system for the silver economy by 2027. The province plans to build over 10 specialized industrial parks and establish around 20 major enterprises leveraging specialized and sophisticated technologies to produce innovative products, according to the Jiangsu provincial government.
Well-positioned as a manufacturing hub, Jiangsu’s plan focuses on ten key areas. These include the production of elderly care products and rehabilitation aids, smart healthcare services, and supplying home modifications required by the elderly.
The province encourages the development of senior-friendly vehicles, wearable rehabilitation robots, and robots designed for emotional companionship and safety inspections. The plan also highlights the application of gene technology in anti-aging efforts.
Jiangsu’s initiative not only addresses the needs of its aging population but also taps into the significant economic opportunities presented by the silver economy. By fostering innovation and specialized industries, the province aims to lead the way in senior-oriented industrial development in China.
Reference(s):
East China province boosts silver economy amid aging population
cgtn.com
