Qatar tribune Agencies The final consumption value of products and services designed with China’s growing older population in mind – a sector that is not yet “fully mature” according to a white paper released this week – has reached about 14.4 trillion yuan (US$2 trillion), an indication of the already ballooning industry’s prospects for further expansion. Low-cost travel, e-commerce, live streaming by older influencers and sorghum wine – a high alcohol drink – are among that population’s top buys according to the white paper from Shanghai-based China Insights Consultancy and Chinese online education service QuantaSing Group.
“With rapid socio-economic development, increases in life expectancy, and a decline in fertility rates, China is gradually transitioning into an ‘aged society,’” said the paper, published Tuesday and presenting an analysis of survey results for 5,710 people aged 45 or higher. “Currently, services and products [for the middle aged and their seniors] are not yet fully mature, presenting substantial market potential for investment and growth.” That potential is being noticed.
In a keynote address at the opening session of the 15th Annual Meeting of the New Champions in the northeastern port city of Dalian, Chinese Premier Li Qiang said the country is seeking improvements in elder care and support for the “silver economy”, calling the demographic a “valuable resource” for society. “I think an effective response cannot .
