An elderly visitor experiences an intelligent wheelchair at the 2025 CIFTIS in Beijing on September 13, 2025. Photo: VCG

By the end of 2024, China's population aged 60 and above reached 310 million, accounting for 22 percent of the total, including 220 million aged 65 and over, according to data released by the Ministry of Civil Affairs in July. 

These figures show that China has already entered a moderately aged society. With the expanding size of the silver generation, demand within the silver economy continues to rise, and the market is expected to exceed 30 trillion yuan ($4.22 trillion) by 2035.

Although demand in the silver economy continues to evolve, supply-side transformation still lags behind. For example, while many beds in high-end private nursing homes remain vacant, many elderly people with disabilities still lack professional care. 

To resolve this mismatch, supply-side structural reforms need to serve as the driving force, gradually forming a dynamic balance in which demand guides supply and the two are precisely aligned. Only in this way can the growing aspirations of hundreds of millions of seniors for a better life be met, while also supporting high-quality development of the silver economy.

On the demand side, the silver economy is showing an upgrading trend characterized by higher quality, greater differentiation, and stronger integration. 

Quality upgrading means that seniors are no longer satisfied with merely meeting basic living needs; instead, they are placing greater emphasis on diverse, higher-quality services such as health management, cultural entertainment, and smart elderly care. 

Differentiation reflects how silver economy demand is shaped by factors such as income, health and education levels, regional distribution, cultural habits, and personal interests, gradually dividing into basic, inclusive, and developmental categories - making the traditional "one-size-fits-all" service model unsustainable. 

Integration highlights the trend of senior demand moving toward comprehensive service systems that combine elderly care, medical treatment, nursing, and cultural engagement, posing higher requirements for cross-sector collaboration and coordinated supply.

Precisely aligning supply with demand is the core pathway to achieving greater efficiency in the development of the silver economy.

At the market level, the vitality of diverse participants must be activated. State-owned enterprises should play a "ballast stone" role, taking primary responsibility for basic and public-interest services that extend into community- and home-based care. Private enterprises, meanwhile, should demonstrate strategic focus and resilience in niche sectors, creating new growth space in industries such as elderly products, smart healthcare, rehabilitation aids, anti-aging, eldercare finance, senior tourism, and age-friendly home modifications. In addition, social organizations can play a complementary role by providing non-profit services such as psychological counseling and community mutual support, thereby improving the overall ecosystem of silver economy supply.

At the technology level, digital and smart systems must undergo deeper age-friendly transformation based on thorough research and user feedback. Currently, many "senior modes" on smart home appliances merely enlarge display fonts, while remote controls remain cluttered with buttons, and functions are overly complex - leaving many seniors reluctant to buy or unable to use them. 

To truly achieve digital inclusiveness, big data should be used to track and analyze seniors' health conditions, income levels, and consumption preferences, building personalized profiles that enable more precise product and service supply and expand effective offerings. In addition to improving current applications, technologies such as IoT and AI should be applied to create new age-friendly and care-supporting environments, improving supply efficiency and enhancing the adaptability and flexibility of supply-side transformation to meet upgrading demand.

At the institutional level, the people-centered nature of the silver economy demands comprehensive risk prevention and control across funding, operations, and regulation. On the funding side, dedicated account supervision should be enforced to prevent misappropriation or fraud. On the operations side, dynamic and regular assessments of service quality and financial health should be carried out, with unqualified providers required to rectify issues or exit the market. On the regulatory side, joint action should be strengthened among civil affairs, market supervision, and financial regulators to crack down on false advertising and illegal fundraising. Industry associations should also reinforce internal oversight, improve credit systems, and enhance risk resistance and competitiveness.

The author is a lecturer from the School of Public Finance and Administration, Tianjin University of Finance and Economics. bizopinion@globaltimes.com.cn