Aging population set to strengthen workforce, stoke consumption,upgrade industry
In an aging society where consumption upgrade is the new normal, elderly Chinese consumers are pursuing high-quality lifestyles with gusto－and their choices and preferences are spurring the growth of the so-called silver-haired economy comprising multiple sectors like elderly care services and elderly tourism.
Compared with other countries, China’s aging society is characterized by a large population base. Currently, Chinese people aged 60 and above number 264.02 million, or 18.7 percent of the total population, up 5.44 percentage points from the level seen in 2010, according to China’s latest national census.
Their number－264 million－is humongous, and larger than the collective population (217 million) of Germany (around 84 million), the United Kingdom (68 million), and France (65 million). For perspective: the population of the United States is around 333 million.