Vice Minister of Civil Affairs Liu Zhengguo: Addressing population aging requires Asian cooperation to jointly promote the development of the silver economy

Author｜Yuan Xiaoli Editor｜Liu Peng On March 27, at the Boao Forum for Asia Annual Conference 2026 sub-forum themed "Exploring the Potential of the Asian Silver Economy and Co-creating Value," Liu Zhengguo, Vice Minister of the Ministry of Civil Affairs, delivered a speech. He stated that population aging is a significant issue faced by Asia and the world, and China is willing to share experiences and deepen cooperation with Asian countries to jointly promote the stable and sustainable development of the silver economy. In his speech, Liu Zhengguo introduced that by the end of 2025, the elderly population aged 60 and above in China will reach 323 million, accounting for 23% of the total population, while those aged 65 and above will reach 224 million, accounting for 15.9%. It is expected that by around 2031, the number of elderly people aged 60 and above in China will exceed 400 million, accounting for 29.2%, and China will enter a stage of severe aging by 2032. He pointed out that as the health level of the elderly population steadily improves, their consumption capacity continues to increase, and their consumption concepts are constantly updated, the vast demand from the elderly provides ample space for the innovative development of the silver economy. Liu Zhengguo shared China's exploration and practice in the development of the silver economy in recent years: First, in promoting the innovative development and iteration of the silver economy, China has established a policy system of "top-level design + special deployment + local practice." The Central Committee of the Communist Party of China and the State Council issued relevant opinions specifically deploying the development of the silver economy, and the General Office of the State Council introduced the first special policy for the silver economy. On this basis, various regions and departments are promoting the improvement and expansion of inclusive elderly care service supply, encouraging the development of new business formats such as smart elderly care, integrated care, and mutual assistance elderly care, and promoting the diversification, quality, and standardization of the silver economy. Second, in deepening the cross-industry integration and value-added models of the silver industry, China is vigorously promoting the deep integration of elderly care with health care, finance, and cultural tourism. The People's Bank of China and nine other departments jointly issued opinions to guide financial institutions to accelerate the development of elderly finance. The Ministry of Civil Affairs, the Ministry of Commerce, and other departments have included home adaptation for the elderly in the subsidy for replacing old consumer goods and are actively promoting innovative integration methods such as "elderly care + cultural tourism" and "elderly care + housekeeping" to achieve industrial transformation and integrated development. Third, in promoting the adaptation of supply and demand in the silver consumption market and cultivating quality, the Ministry of Civil Affairs and eight other departments jointly issued several measures to fully stimulate the vitality of various elderly care service operators. The Ministry of Industry and Information Technology has released a promotion catalog for elderly products for four consecutive years, promoting over 1,000 age-friendly products such as companion robots. The Ministry of Civil Affairs and the Ministry of Finance organized and implemented a subsidy project for elderly care services for moderately to severely disabled elderly individuals, which was fully implemented in January this year, driving elderly care service consumption to 11.5 billion yuan Fourth, in strengthening the sustainable development of the elderly care industry through intelligent technology empowerment, China is actively promoting the application of new technologies such as artificial intelligence, big data, and the Internet of Things in the elderly care field. The Ministry of Industry and Information Technology, the Ministry of Civil Affairs, and the National Health Commission have iteratively released four batches of promotion catalogs for smart health elderly care products and services, selecting 228 products and 204 services. The Ministry of Civil Affairs has issued relevant opinions to strengthen technological support, promote the formulation of international standards for elderly care robots, and help the elderly bridge the digital divide. Liu Zhenguo stated that Asia is the most dynamic and promising region in the world, and addressing population aging and developing the silver economy requires win-win cooperation and joint progress. He proposed four initiatives: first, to jointly promote innovation collaboration and stimulate new momentum for the silver economy; second, to jointly advance industrial integration and expand new spaces for value innovation; third, to jointly grasp supply-demand matching and cultivate a new ecology of quality consumption; fourth, to share technological dividends and build a new paradigm for smart elderly care