Silver economy to boost well-being of the elderly


Visitors check out the booth of Beijing Hongsong Online Technology Co Ltd during the 11th China International Silver Industry Exhibition, which opened on Thursday in Guangzhou, Guangdong province. — China Daily

CHENGDU: For He Jia, a dentist from West China Hospital of Sichuan University, helping the country’s 310 million seniors aged 60 and above enjoy a healthy and happy life has been a dream for years.

“As a doctor, I know they need better care from society,” he said.

So he set up Beijing Hongsong Online Technology Co Ltd in 2020 with a mission to “create a wonderful retirement life” for the elderly.

Hongsong co‑founder and chief executive officer Li Qiao said one reason he set up the company was to let his mother enjoy a better quality of retirement with more social interactions.

The State Council Information Office revealed during a news conference in Beijing that by the end of 2024, the number of Chinese seniors aged 60 and above had reached 310 million.

That equates to 22% of the total population, among whom those aged 65 and above had hit 220 million, showing that the country is now a moderately‑ageing society.

“A new way has to be found to help the Chinese elderly,” said He, noting that currently, Hongsong provides four core businesses – Hongsong app, senior‑friendly interest‑based learning, senior culture and tourism, and senior consumer products – to its clients.

Huang Yuzhi, a 90‑year‑old military veteran living in Guangzhou, Guangdong province, began taking piano lessons at Hongsong at the age of 88.

In 2023, she signed up for Hongsong courses recommended by her family and joined a seven‑day introductory course with tutor Xiao Jiang. In just a few days, she learned to play four simple songs.

In November that year, Huang joined a Yangtze River cultural and tourism activity organised by Hongsong, accompanied by her four relatives.

They explored the Three Gorges and participated in a tutor‑student musical performance, which she said was a “highlight” in her senior years.

Even at 90, she dabbled with artificial intelligence‑generated poetry and sought advice on making nourishing soups via Hongsong, striving to make her retired life a “second youth”.

The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China urged in October the recommendations for formulating the 15th Five‑Year Programme (2026-30) to actively develop eldercare services and industries, as well as promote the silver economy.

Jiang Peng, product manager of Hongsong, said he thought the eldercare services and industries can be bolstered through hardware – infrastructure and legal systems – and software – services.

Liu Zhenguo, Vice‑Minister of Civil Affairs, said a senior‑friendly social environment is improving nationwide in terms of social participation, safeguarding legitimate rights and interests, and building a senior‑friendly society.

Professor Li Chao from China University of Political Science and Law said during the 14th Five‑Year Programme (2021 to 2025), the country has formed a comprehensive legal framework for the elderly, covering areas like senior services and social security.

Peng said that while most elderly can enjoy happy golden years, problems facing them are still lingering, such as daily chores in caring for grandchildren and cooking, difficulty in seeking medical treatment, and fraudsters targeting seniors and their savings.

“With scientific and technological advancement in our country, more tools such as robots can help seniors with their daily chores, and give them more free time,” Peng said.

The 11th China International Silver Industry Exhibition opened last week in Guangzhou, Guangdong province, to gather over 550 world‑renowned brands spanning the entire silver economy industrial chain, serving as a pivotal hub connecting their needs with industrial solutions.

A report from CIC Consulting said China’s smart eldercare market hit some 11 trillion yuan by the end of 2024.

Hongsong participated in the Guangzhou exhibition with a core objective to explore “how to define a new paradigm of high‑quality eldercare” by transforming seniors’ genuine needs into tangible scenarios, He said.

The dentist from West China Hospital added its interactive booths allowed seniors to find like‑minded peers in a traditional cultural atmosphere. — China Daily/ANN

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