Chinese Firms Mining the ‘Silver Economy’: The Rising Purchasing Power of the Aging Population

Chinese businesses are pursuing opportunities in the 'silver economy' as the population ages. According to Irina Fan from the Hong Kong Trade Development Council, a large number of elderly people are currently healthy, active, have plenty of time, and possess substantial buying power.

In a modest grocery store in Shanghai not long ago, shoppers were taken aback to find a wider variety of adult diapers compared to those for babies. A couple of rows over, in the area dedicated to milk powder, they observed a comparable pattern – a greater selection for adults than for babies.

"Milk powder with high calcium and low fat content is especially favored," mentioned a shop assistant. "There's a noticeable amount of individuals purchasing milk powder for adults currently."

"A considerable number of elderly individuals are in good health, engaged in activities, have plenty of time, and possess substantial buying power," stated Irina Fan, who is the research director at the Hong Kong Trade Development Council.