Wednesday marked China’s Chongyang Festival, also known as the Double Ninth Festival, which is celebrated on the ninth day of the ninth lunar month in the traditional Chinese calendar, a time-honored occasion dedicated to respecting and caring for seniors that carries profound cultural significance for Chinese people.
In this cultural context, several platforms covering daily consumption and tourism have recently released data pointing to a rise in consumer spending related to elderly groups, reflecting the growing vitality of the silver economy.
At the end of 2024, the population aged 60 and above in China was 310 million, accounting for roughly 22 percent of its total population, while the population aged 65 and over was 220 million, representing 15.6 percent of the population, Liu Zhenguo, vice minister of civil affairs, said at a press conference held previously in October.
This year the number of users buying senior friendly products on e-commerce platform JD.com has grown 228 percent year-on-year, according to a release shared with the Global Times on Wednesday by the platform.
According to another release shared with the Global Times by online travel agency Tongcheng Travel, from January to September 2025, the average accommodation spending of users aged 60 and over was more than 30 percent higher than that of younger groups, and their share of stays in mid- to high end hotels was also relatively higher.
A Shanghai resident surnamed Ma told the Global Times on Wednesday that she has bought some gifts to her parents as the Chongyang Festival approaches.
“The elderly population is large and will continue to grow. There is strong demand and a sizable market for meal assistance, in-home elder care, health and caregiving services, and cultural and recreational activities — the silver economy is enormous,” Jiang Quanbao, an expert in population studies and a professor at the School of Labor Economics, Capital University of Economics and Business, told the Global Times on Wednesday.
China’s silver economy has witnessed robust growth in the first half of 2025, with related industries recording significant revenue increases, value-added tax invoice data released in July by the State Taxation Administration revealed in July, according to Xinhua News Agency.
At the national level, China’s silver-economy market reached 8.3 trillion yuan ($1.17 trillion) in 2024, and is expected to exceed 20 trillion yuan by 2030, and by 2050 the consumption potential of its elderly population will grow to about 106 trillion yuan, making it the country with the greatest potential in the global silver-economy market, according to a report posted on the website of the State Information Center in July.
In terms of improving the living quality of seniors, efforts should focus on ensuring seniors’ basic livelihood security and medical care to meet their basic needs; meanwhile, various health services, convenience services for daily living, and psychosocial needs such as entertainment and social activities could be provided to them, Jiang said.
More efforts could be made to help the senior people integrate into society and take an active part. A high-quality life depends on the realization of self-worth, Jiang noted.
