A Market Worth 2.4 Quadrillion Won... "It's Not Just About Feeding the Elderly": The Aging Continent Replaces Its Industrial Engine [China. ZIP]

The Silver Industry Emerges as a New Engine of Consumption
Accelerating the Pace of Industry Development

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China is turning its attention to the silver industry amid rapid population aging. According to information released last month by the National Bureau of Statistics of China, the proportion of people aged 65 and over has reached 15.87%, while the proportion of those aged 0 to 14 is 15.25%. This is the first time since statistics were first compiled in 1949 that the elderly population has surpassed the child population. The proportion of the working-age population (aged 15 to 59), who must support the elderly, has also dropped to 61.89%, a significant decline from 67.33% ten years ago. There are forecasts that China will become the world's largest aging society within the next 20 to 30 years. Aging has emerged as a serious social issue in China, leading to negative impacts such as a slowdown in economic growth caused by reduced labor force and increased pension burdens. As a result, Chinese authorities are reorganizing policies related to the silver industry and expanding the workforce, accelerating the development of the industry in an effort to transform it into a new engine for consumer growth.

Chinese CCTV reporting on China's efforts to advance the silver industry. Photo by Chinese CCTV

China's Silver Industry Market Grows 15.2% Year-on-Year

On June 15, Chinese financial platform China Industry Economy Information Network commented, "Thanks to the continuously improving support system for aging, the silver industry has advanced to a new level this year." According to a research report on China's silver economy industry, the market size of the Chinese silver industry is expected to exceed 10.8 trillion yuan (about KRW 2,429.46 trillion) this year. This figure represents a 15.2% growth compared to the previous year. In particular, the industry is expanding into diverse fields such as health and wellness, tourism, and medical services, and is being evaluated as a new growth sector.

According to the '2025 Statistical Bulletin on National Economic and Social Development of the People's Republic of China' released by the National Bureau of Statistics in February of this year, as of the end of last year, there were approximately 40,000 elderly care facilities nationwide. In addition, 722,000 employees were working in elderly care-related occupations, up 12.2% from the previous year. Beijing has announced that it provides subsidies to care facilities and strictly manages credit records to prevent incidents such as elder abuse.

Major cities across China are actively holding silver industry expos and establishing dedicated complexes. At a recent elderly care expo held in Shanghai, about 680 companies participated and 100,000 people attended. Shops related to elderly care are popular in major cities such as Beijing, Shanghai, and Hangzhou. In Jilin Province, a silver economy industrial complex was recently established with a total investment of 1.668 billion yuan (KRW 375.28332 billion).

Focus Shifts from Mere Survival to Quality of Life... Changing Perceptions of Care

China CCTV reporting on China's efforts to develop the silver industry. Photo by China CCTV

In line with government policy, cities are expanding the scope of long-term care insurance systems and in-home elderly welfare facility projects. Earlier this year, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued opinions on accelerating the establishment of a long-term care insurance system, expanding long-term care insurance from regional pilot projects to nationwide implementation. At the same time, each city is promoting the scaling up and standardization of the industry. Experts predict that by 2035, the market size of China's silver economy will reach 30 trillion yuan (KRW 6,748.8 trillion). The combination of policy and demand has led to the expansion of the silver industry into the care sector through technological applications, making it a necessity rather than an option.

Perceptions of elderly care, which previously prioritized survival, are gradually changing. As more emphasis is placed on maintaining health, improving quality of life, and mental well-being, the market has rapidly expanded beyond basic needs such as food, clothing, and shelter to include personalized health management, travel, accommodation, culture, leisure activities, healthcare, finance, and education.

The Elderly Care Robot Market Is Also Growing Rapidly

A Chinese robot is cooking. Chinese Weibo.

Elderly care systems are evolving by integrating technologies such as artificial intelligence, wearable devices, and robotics. On June 18, Lanjing News, citing data from China Research Consulting, reported that the market size of China's elderly care robot industry surpassed 30 billion yuan (KRW 6.7665 trillion) in 2024 and 50 billion yuan (KRW 11.2775 trillion) in 2025. Recently, China's robotics industry has been developing rapidly, with videos of robots participating in boxing, dancing, marathons, and soccer attracting attention. Lanjing News noted, "Although robots implementing AI are the long-term direction, the elderly care environment requires safety, practicality, and cost-effectiveness above all else."

Some Chinese manufacturers have launched walking aids, AI rehabilitation robots, and emotional robots, which are already being used in certain settings. Their functions vary, including waking up users in the morning, assisting with housework, sharing emotions, and monitoring health. While technological advancement is rapid and demand continues to grow, awareness of care robots remains limited. According to a survey by the JD.com Consumer Industry Development Research Institute, 64.4% of elderly people in China wish to spend their later years at home. The proportion preferring community-based elderly care is 12.6%. Since the majority of Chinese seniors prefer to stay at home, care robots must be designed accordingly. However, since each household is different and not standardized, experts agree that robots must overcome this limitation. Robots must learn vast amounts of information and be able to respond to a wide range of changes that may occur in the home. The advancement of AI-based algorithms capable of comprehensively learning not only housework but also information on seniors' falls and diseases is cited as a core task.

Still a Long Way to Go, Experts Say

Elderly people gathered at a silver industry trade fair. Weibo, China.

Although the number of care facilities and businesses is growing and government support policies are increasing, there are still concerns that much progress remains to be made. According to Guangming Net, issues such as the imbalance between supply and demand, a fragmented and small-scale industry, and a shortage of skilled professionals are cited as problems. As of the end of April last year, the number of consumer goods nationwide exceeded 218 million, but products for the elderly numbered only 216,000. This is far from sufficient compared to the elderly population ratio (23%). In addition, the proportion of nursing beds in elderly care facilities falls far short of the target of 73%.

There is also a severe lack of elderly care professionals, policy standardization, and awareness improvement. Particularly, regional development imbalances between urban and rural areas and false advertising of products targeting the elderly are also mentioned as issues.

Wu Ruijun, Director of the Institute of Gerontology at East China Normal University, emphasized that the silver economy should not be limited to "business for the elderly." He said the silver economy should naturally integrate into family life, stating, "The focus should not be on simple buying and selling, but on how much it relieves family anxiety and how much it makes the daily lives of seniors more comfortable."

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