China's gray economy unlocks potential amid more need for eldercare

BEIJING — With population aging becoming a common global challenge, there is burgeoning demand for innovative and comprehensive eldercare services, which unleashes growing potential for emerging industries.

With an increasingly graying population, China is expected to ride the trend and unlock rapid development of potential industries in the sector, drawing investment from foreign enterprises.

In 2023, people aged 60 and above in China amounted to 297 million, accounting for 21.1 percent of the total population. Experts have predicted that the number will surpass 400 million around 2035 and should reach 500 million by 2050.