China drives silver economy to meet seniors' aspirations

China is pressing ahead with the development of its "silver economy", industries and services tailored to the elderly, as the 15th Five-Year Plan (2026-2030) sets out measures to meet seniors' aspirations for a better life.

The silver economy refers to business opportunities linked to aging populations, ranging from healthcare and smart devices to leisure and financial services, and is increasingly viewed as a trillion‑yuan growth engine.

The plan highlights both social care and commercial potential, channeling innovation into products and services for older citizens.

In Shanghai's Putuo District, a senior-focused store illustrates the trend. Just three months after opening, it has become a popular destination for retirees. Shoppers browse AI-powered musical instruments, emotional companion robots, portable electric wheelchairs, and other tech-driven products designed to enhance daily living.

"Having this (portable wheelchair) has improved my quality of life greatly," said a customer at the store.

"Its design is novel and quite stylish. We also like to keep up with the younger generation's trends," said another customer.

For store owner Ma Zhiwen, the brisk demand for cutting-edge tech products is proof that seniors are no longer passive consumers but active drivers of China's silver economy, turning lifestyle upgrades into a trillion-yuan market force.

"Traditional seniors might have thought they were limited to wheelchairs and canes, but once they discovered riser recliners and high-quality electric beds which can even be fitted with smart mattresses, they immediately realized that a high quality of life is within reach," she said.

According to a report released by CCID Consulting in late February, the market size of China's silver economy is projected to reach 25 trillion yuan (more than 3.63 trillion U.S. dollars) by 2030.

China drives silver economy to meet seniors' aspirations

China is willing to continue working with Russia within the framework of the United Nations (UN) Security Council, maintain timely communication on major issues, and make joint efforts to help de-escalate the situation in the Middle East, safeguard regional peace and stability, and uphold common security for the world, Chinese Foreign Minister Wang Yi said on Sunday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a phone conversation with Russian Foreign Minister Sergei Lavrov.

China and Russia, as permanent members of the UN Security Council, should uphold fairness and justice on matters of principle, adopt an objective and balanced approach, and seek greater understanding and support from the international community, Wang said.

Noting that China has consistently advocated the resolution of international and regional hotspot issues through dialogue and negotiation, Wang said that the situation in the Middle East continues to deteriorate, hostilities are still escalating, and the fundamental solution to ensuring navigation through the Strait of Hormuz lies in achieving an early ceasefire and bringing the war to an end.

For his part, Lavrov said Russia is highly concerned about the continued escalation of tensions in the Middle East.

Regarding the ongoing conflict and the issue of the Strait of Hormuz, Lavrov said Russia maintains that military operations must be stopped immediately and efforts should return to the track of political and diplomatic settlement to address the root causes of the conflict, and the UN Security Council should play a constructive role in this regard.

Russia stands ready to maintain close communication and coordination with China and continue to make efforts and speak out in support of a ceasefire and the end of the war, he said.

China willing to cooperate with Russia to de-escalate Mideast situation: FM