Silver economy a silver lining for business

According to the United Nations' criterion, a country whose population aged 65 or above reaches 7 percent of the total is considered an aging society; when it touches 14 percent, it is considered a deep-aging society, and when it reaches 20 percent, it becomes a super-aged society.

Based on official statistics, in 2023, about 13.5 percent (190 million) of China's population and 29.1 percent (36.23 million) of Japan's population were aged 65 or above, which means Japan is already a super-aged society and China will soon become a deep-aging society.

An aging society is a demographic phenomenon, which brings social challenges but also creates opportunities. The "silver economy", part of the economy which primarily meets elderly people's needs, is based on the market and thrives on economic opportunities created by this demographic change. These two aspects complement each other and impact other aspects of modern society.