East China province boosts silver economy amid aging population

NANJING, Sept. 23 (Xinhua) -- East China's Jiangsu Province has recently released an implementation plan to promote the high-quality development of its silver economy in the latest response to an aging population.

As one of the provinces with the highest proportion of old people in China, Jiangsu was home to nearly 21 million residents aged 60 and above by the end of 2023, presenting vast consumption potential.

The silver economy covers a broad range of economic activities such as providing products and services for the elderly.

This coastal province plans to develop a fairly complete industrial system for the silver economy by 2027, building over 10 specialized industrial parks and adding around 20 major enterprises that use specialized and sophisticated technologies to produce novel and unique products, according to the Jiangsu provincial government.

As a manufacturing hub, Jiangsu is well-positioned for senior-oriented industrial development. Its plan focuses on 10 key areas, including the production of elderly care products and rehabilitation aids, smart healthcare provision and the supply of home modifications needed by the elderly.

It encourages the development of senior-friendly vehicles, wearable rehabilitation robots, and robots for emotional companionship and safety inspections. The plan also calls for the application of gene technology in anti-aging efforts.