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China stepping up efforts in boosting 'silver economy'

By Cheng Si | chinadaily.com.cn | Updated: 2024-01-15 20:39
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Some senior citizens use exercise equipment at a park in Beijing. [PHOTO by ZOU HONG/CHINA DAILY]

China is stepping up its efforts to optimize the pension services and product supplies to the elderly, a move to deal with the aging challenges and let the elderly enjoy the results of social and economic development.

The State Council, China's cabinet, recently released a guideline to help boost the development of a "silver economy" — economic activities related to the elderly's life including domestic services, healthcare, and entertainment, reported by the Xinhua News Agency on Monday evening.

Under the guideline, the government encourages catering companies and nursing homes to offer dining assistance to the elderly, and hospitals and clinics to better their healthcare and rehabilitation services to the group.

The government will establish about 10 economic zones nationwide to develop the "silver economy", according to the guideline, and more preferential policies will be given to e-commerce platforms and shopping malls to encourage them to organize shopping events tailored for the elderly.

The guideline also encourages the development of elderly-oriented products with high technologies such as domestic nursing robots and rehabilitation assistance devices. It also encourages financial institutes to channel more investment to industries or projects on nursing services and those related to the "silver economy".

It's important to produce talent to support the "silver economy" development while more strict measures will be released to crack down on illegal behaviors of defrauding the elderly, according to the guidelines.

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