Aging demographic unleashing consumption potential

With the world's largest aging demographic — projected to see over 400 million people aged 60 and above by 2035 — China is leveraging its vast domestic market and robust industrial infrastructure to grow the silver economy, analysts said.

By doing so, China is not only improving the well-being of senior citizens, but also unlocking new avenues for economic growth and innovation, they said, adding that China's experience can offer insights for other developing countries that are still relatively young in their demographic transition.

With currently around 300 million people aged 60 and above, China is home to the world's largest elderly population, and roughly one in every four seniors globally, said Zhang Ming, deputy director of the Institute of Finance and Banking, which is part of the Chinese Academy of Social Sciences.