China's Two Sessions Discuss Fostering 'Silver Economy'... 22% of Population Aged 60 and Above

At China's largest annual political event, the Two Sessions (Lianghui - the National People's Congress and the Chinese People's Political Consultative Conference), representatives are preparing proposals to revitalize the "silver economy," according to the state-run media Global Times on the 24th.

He Dan, a member of the Chinese People's Political Consultative Conference (CPPCC) and director of the China Population Development Research Center, is researching ways to improve care systems for elderly people who have lost the ability to care for themselves. He is focusing on mutual recognition of long-term care insurance for the elderly across regions and strengthening training in caregiving technologies.

A yoga instructor is guiding an elderly person in Beijing, China. Photo by Reuters Yonhap News.

According to population statistics released by the National Bureau of Statistics of China in January, the population aged 60 and above reached 310 million last year, accounting for 22% of the total population.

Demographer He stated that China has not yet faced the true challenges of population aging, and policies to address aging issues should be forward-looking.

Another CPPCC member, Liu Meilin, is expected to propose that high-quality elderly medical services are necessary to foster the silver economy. Liu emphasized that, in addition to the government introducing a series of policies in this field, social capabilities must also be mobilized. He is studying the characteristics and treatment methods of elderly diseases, management strategies, and optimization of diagnosis and treatment plans.

Song Jian, a demographer at the Population Development Research Center of Renmin University of China, said that the Two Sessions will discuss policy improvements to gradually extend the statutory retirement age. China's statutory retirement age has been gradually extended over 15 years starting from January this year. The retirement age for men will increase from 60 to 63, for female cadres from 55 to 58, and for female blue-collar workers from 50 to 55.

He also noted that the use of artificial intelligence (AI) in the elderly care sector is expected to be a key agenda item at this year's Two Sessions.

Ahead of the Two Sessions, the China Population Development Research Center formed a research team to study ways to promote the silver economy. The team stated that the silver economy is a major driving force for high-quality economic development and a key means to promote employment and secure livelihoods.

This content was produced with the assistance of AI translation services.