State Council promises support to “unleash” seniors’ spending

Premier Li Qiang wants to "unleash the consumption demand of the elderly."

That's according to the read-out of the State Council executive meeting on February 24, which put the silver economy and elderly care front and center.

ICYDK: China is home to over 320 million people aged 60 and above – and by 2035, that figure is set to exceed 400 million (Xinhua).

• The aging population isn't just a fiscal burden – it will also drive massive structural demand for products and services seniors need.
• Beijing has supported the development of senior-focused industries for years – from in-home nursing and rehab care to supplements, smart appliances, adaptive furniture, and robotics.

The State Council promised further support to:

• Boost seniors' spending power, including with direct support policies like elderly care consumption subsidies
• Expand "inclusive" elderly care, building a "tiered" and "universally accessible" system covering urban and rural areas

Get smart: Top policymakers want scalable elderly care service models that serve lower-income and rural seniors alongside affluent urban retirees.

• For providers, that likely means lower per-user margins – but also stronger policy tailwinds, including pilot opportunities, local government support, and easier market entry for firms aligned with Beijing’s inclusivity goals.

Get smarter: We expect growing the silver economy to feature prominently in the 15th Five-Year Plan (2026-2020) when it's released next month.