Turning nation's aging challenge into opportunity

Long-term care insurance, silver economy and flexible working key components of 15th Five-year Plan

China's 15th Five-year Plan (2026-30), when it gets underway next year, will mark a significant shift in how the country handles its aging population, reframing the elderly from being a social welfare challenge to treating aging as a strategic economic opportunity formalized under long-term care insurance, private pension reform and the silver economy.

China has 310 million people aged 60 and above, accounting for 22 percent of the total population, among whom 220 million are aged 65 and above, according to the Ministry of Civil Affairs. Life expectancy during the period of the 14th Five-Year Plan (2021-25) reached 79 years, an increase of 1.07 years from 2020 and five years higher than the global average.