China’s Rapidly Aging Population Drives $652 Billion ‘Silver Hair’ Market

Publie dans : Economie

c2

The increase in China’s elderly people to more than 200 million has created a host of challenges, from a shrinking labor force to soaring pension needs. But there’s a silver-haired lining.

The market of goods and services for China’s rapidly aging population will reach 4 trillion yuan ($652 billion) this year, or eight percent of GDP, according to the “China Report on the Development of the Silver Hair Industry” issued Tuesday in Beijing.

The industry is expected to rise to 106 trillion yuan ($17 trillion) by 2050, amounting to a third of the Chinese economy. That would make it the world’s largest market for the aged. That year China will have 480 million people over 60—one quarter of the world’s elderly—says the report, which was published Sept. 23 by the China National Committee on Aging.

Read the report