Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 34 , 10 November 2023


Open Access | Article

Demographic Challenge: The Rise of the Silver Economy in China

Yiqi Guo 1 , Mingxin Liu * 2 , Junhong Wang 3 , Yuman Xia 4 , Di Zhao 5
1 Lafayette College, Easton PA,18042, US
2 Saint Johnsbury Academy Jeju, Seogwipo, Jeju-do, 63021, Korea
3 Shenzhen College of international education, Guangdong, 523330, China
4 Shenzhen College of international education, Guangdong, 518000, China
5 Pitzer college,Los Angeles,California,97163,US

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 34, 120-125
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yiqi Guo, Mingxin Liu, Junhong Wang, Yuman Xia, Di Zhao. Demographic Challenge: The Rise of the Silver Economy in China. AEMPS (2023) Vol. 34: 120-125. DOI: 10.54254/2754-1169/34/20231688.

Abstract

This paper explores the silver economy in China. The aging demographic in China has created challenges and opportunities for the economy. Based on analyzing extant literature relating to the silver economy, this research highlights the growth of the healthcare industry, tourism, and technology as significant areas of the silver economy. However, challenges like the lack of retirement savings and limited access to resources in rural areas are also discussed. The Chinese government has implemented policies to support the industry, such as tax breaks, subsidies, and programs to promote the development of retirement communities and long-term care facilities. The essay concludes that while the silver economy is becoming increasingly important in China, more efforts may be needed to address these challenges and ensure the industry's continued growth. This research is helpful for policymakers, businesses, and other stakeholders to develop strategies to adapt to these changes and harness the potential of the growing older population.

Keywords

silver economy, demographic change, China

References

1. European Economic and Social Committee. “Digital E-Seniors and the Silver Economy.” European Economic and Social Committee, 24 Apr. 2019,https://www.eesc.europa.eu/en/news-media/news/digital-e-seniors-and-silver-economy.

2. Macrotrends. “China Life Expectancy 1950-2023.” MacroTrends, 2023, https://www.macrotrends.net/countries/CHN/china/life-expectancy.

3. A. Klimczuk, The Silver Economy as a Constructive Response in Public Policy on Aging, [in:] I.B. Bojanić, A. Erceg (eds.), Strategic Approach to Aging Population: Experiences and Challenges, J.J. Strossmayer University of Osijek, Osijek 2021, pp.19–35.

4. Klimczuk, Andrzej, "Supporting the Development of Gerontechnology as Part of Silver Economy Building", Ad Alta: Journal of Interdisciplinary Research 2/2012, p52.

5. Jin, Huihui. Are We Ready for the Trillion-Dollar Silver-Haired Economic Market? 2022, http://leaders.people.com.cn/n1/2022/1115/c58278-32566241.html.

6. Population Pyramid. Net. “Population Pyramids of the World from 1950 to 2100.” PopulationPyramid.net, 2022, https://www.populationpyramid.net/china/2070/.

7. Tou, Bao. 2022 China Sliver Hair Economy Industry Analysis Report, 2023,https://pdf.dfcfw.com/pdf/H3_AP202007231393632709_1.pdf?1601215122000.pdf.

8. Lee, Enlai. “Analysis on the Influencing Factors of Aging Population in China.” Aging Research, Scientific Research Publishing, 24 Aug. 2016,

9. Zhu, Hengpeng. “The Role of Social Security in China’s New Development Pattern.” The Role of Social Security in China’s New Development Pattern, 2023,https://china-cee.eu/2023/02/10/the-role-of-social-security-in-chinas-new-development-p attern/.

10. Zhang, Nan, Lin, Zhijian, and Yang Lin. Multi-level transferable income gap among the elderly: Findings from the China Health and Retirement Tracking Survey. Study and Practice. 5: 60-69. 2022.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-089-9
ISBN (Online)
978-1-83558-090-5
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/34/20231688
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated