Decoding the Silver Hair Economy: Excavators Meet Industrial Upgrading in Demand Iteration to Improve Energy Levels
2025-08-25
With the continuous expansion of China's elderly population, it is expected that the population aged 60 and above will exceed 400 million by 2035. The aging process in China is accelerating, and the market potential and commercial value of the silver economy are becoming increasingly prominent. The scale of the silver economy is expected to reach 30 trillion yuan. In order to implement the national strategy of actively responding to the aging population, strengthen the care services for disabled elderly people, boost the consumption of elderly care services, and promote the high-quality development of elderly care services in the new era and new journey, the Ministry of Civil Affairs and the Ministry of Finance jointly issued the "Notice on Implementing the Elderly Care Service Consumption Subsidy Project for Moderately or More Disabled Elderly People" in July this year, and distributed elderly care service consumption subsidies to moderately or more disabled elderly people nationwide. The vast market prospects are attracting various market entities to actively layout and deeply participate. According to Tianyancha data, as of now, there are 49640 newly established elderly care related enterprises in China this year; If we look at the cumulative scale, the total number of domestic elderly care enterprises is as high as 596100, fully demonstrating the market's high recognition of the silver haired economy track. The latest data from the State Administration of Taxation shows that in the first half of 2025, the sales revenue of elderly and disabled care services, elderly friendly family services, and elderly friendly social care and assistance services in China will increase by 40.9%, 14.1%, and 8.8% year-on-year, respectively, which is 37.7 percentage points, 10.9 percentage points, and 5.6 percentage points higher than the average growth rate of the national service industry, showing a rapid growth trend. From the perspective of production and manufacturing, in the first half of the year, the number of households engaged in the production and manufacturing of silver hair products in China increased by 14.1% year-on-year; The sales revenue of fitness equipment manufacturing for the elderly, rehabilitation aids manufacturing, and nutrition and health food manufacturing increased by 14.7%, 12.1%, and 6.9% respectively year-on-year, which were 9.5 percentage points, 6.9 percentage points, and 1.7 percentage points higher than the average growth rate of the national manufacturing industry, respectively. The market entities in the silver economy sector are not only accelerating their entry, but also actively focusing on the changing needs of the elderly population, deepening their layout from multiple dimensions such as product innovation, service upgrading, and scene expansion, promoting the silver economy to leap from "single point breakthrough" to "industrial cluster", continuously expanding the scale of the industry, and enhancing development strength. The relevant person in charge of Aier Eye Hospital Group Co., Ltd. stated in an interview with reporters that in the face of a large demand for ophthalmic diagnosis and treatment among the elderly, the company is closely following market changes. On the one hand, it is expanding its medical network to cover more elderly people; On the other hand, continuously introducing advanced technology to bring better visual effects to patients. It is worth noting that in the process of enterprises deeply cultivating products and services, the empowering role of technology is becoming increasingly prominent, especially the application of data technology in elderly care scenarios, which is transforming from an "auxiliary tool" to a "core driving force". Taking the Lepu series health monitoring equipment as an example, devices such as Lepu ECG recorders, Lepu oximeters, and Lepu ECG blood pressure monitors can detect physiological indicators such as heart rate, blood pressure, and blood oxygen saturation in elderly people. They can also meet short-term detection and long-term real-time monitoring, and synchronize the data to the Lepu Health App or medical institution platform. Once there are abnormal fluctuations in the data, timely warnings can be issued to buy valuable time for the treatment of sudden diseases. The head of a nursing home in Haidian District, Beijing, admitted to reporters that under the traditional elderly care model, "elderly safety supervision" is the biggest challenge. With the introduction of intelligent care devices, this dilemma has been effectively alleviated. This integration model of "data technology+elderly care services" is a vivid epitome of the high-quality development of the silver economy driven by data technology, and also indicates that smart elderly care will become the core direction of future industry development. In the process of accelerating the entry of market entities, policies serve as a "fixed star". From top-level design to local practice, policy dividends continue to be released, providing market entities with a "reassurance pill". A company in Chengde, Hebei that has been deeply involved in the building materials industry for more than ten years is a typical representative of planned transformation under policy guidance. The relevant person in charge of the company admitted in an interview with reporters that the company is considering transforming and opening elderly care institutions for two core reasons: firstly, it accurately perceives the huge market potential of the silver economy, and secondly, it fully relies on the strong policy support provided by local governments. According to the person in charge, in order to promote the construction of the municipal elderly care service system, a special subsidy policy has been launched for elderly care institutions, which includes two core dimensions: one-time construction subsidies and differentiated operation subsidies. A maximum subsidy of 1.6 million yuan can be given to newly built elderly care institutions invested by social capital. In terms of operation, local elderly residents who actually reside in elderly care institutions will be provided with operational subsidies based on their physical condition, with a maximum standard of 300 yuan per person per month; In order to attract cross regional elderly care groups, a subsidy of 300 yuan per person per month will be uniformly issued to elderly people in the Beijing Tianjin region who have been staying in local elderly care institutions for a long time, further expanding the source of institutional customers and improving operational stability. Multi dimensional capital supports targeted measures to enhance core competitiveness. The capital market's attention and investment in the silver economy have significantly increased, injecting ample momentum into the industry's development. Specifically, in terms of financing support, the capital market has built a diversified empowerment system of "equity+bonds+funds" for silver haired economic enterprises, and the role of "blood transfusion and oxygen supply" continues to be highlighted. According to Wind Information data, as of now, 56 silver haired economy related enterprises have entered the capital market in terms of equity financing, raising 216.429 billion yuan through initial public offerings, mainly for enterprise technology research and development, capacity expansion, and market expansion, helping enterprises move from the "initial stage" to the "growth stage"; In terms of bond financing, in the past 10 years, 16 silver haired economy related enterprises have issued a total of 17 pension themed bonds, raising a total of 11.82 billion yuan, mostly invested in long-term projects such as the construction of pension institutions and the renovation of elderly friendly infrastructure, providing stable financial support for the industry; In terms of theme funds, as of now, 1190 Wind Elderly Care Industry Concept Theme Funds have been established nationwide, with a total scale exceeding 1.45 trillion yuan. These funds have specialized investment layouts in smart elderly care, medical and elderly care integration and other sub sectors, providing channels for ordinary investors to participate in the silver economy, as well as introducing long-term capital to high-quality enterprises in the industry, forming a benign interactive pattern of "capital supporting the industry and industry feeding back capital". Multi dimensional capital support not only alleviates the problem of "difficult and expensive financing" for silver haired economy enterprises, but also promotes the concentration of funds in high-tech and market potential fields through market-oriented resource allocation, providing solid guarantees for entrants to accelerate market expansion and enhance core competitiveness, further consolidating the capital foundation for high-quality development of silver haired economy. Although the current development of the silver economy is showing positive momentum, the reporter found in the survey that the lagging consumer awareness is still a key pain point that restricts the industry from further unleashing its potential. The relevant person in charge of Lepu Medical admitted to reporters: "The difficulties and challenges encountered by the company mainly lie in the vague needs of the elderly, and at the same time, most elderly people lack professional knowledge of medical care, which makes them easily attracted by heavily marketed products." The relevant person in charge of Shenzhen Kangtai Biological Products Co., Ltd. also mentioned similar issues. The person in charge stated that although the health and scientific awareness of the general public has greatly improved in recent years, the overall awareness of the importance of vaccines among the elderly population is still insufficient. Some elderly people have doubts about the safety and effectiveness of vaccines, and their willingness to receive them is not high. However, there are also opportunities hidden behind the pain points. With the gradual transformation of consumption concepts among the elderly population, the increasing attention of young children to the quality of their parents' elderly care, and the continuous investment of enterprises in consumer education, "demand awakening" is becoming a new breakthrough for the growth of the silver economy. On the one hand, relevant enterprises actively break through the situation through "experiential marketing+scenario based science popularization". For example, the relevant person in charge of Lepu Medical mentioned above stated that the company has extensively cooperated with hospitals, pharmacies, etc. in the process of product promotion, continuously strengthened science popularization education for middle-aged and elderly people, and provided product trial and other services to enhance their awareness of professional medical knowledge and strengthen professional promotion. In the future, the company will continue to optimize and iterate its products, do a good job in adapting them to aging, and make them more in line with the needs of middle-aged and elderly people. On the other hand, policies and markets work together to build a "demand docking bridge". Some local governments have included aging friendly renovations and intelligent elderly care products in the coverage of elderly consumption subsidies, lowering the threshold for elderly people to try them out; E-commerce platforms analyze the consumption preferences of the elderly through big data, launch "exclusive venues for elderly friendly products", optimize product recommendations based on user evaluations and feedback, and help consumers find products and services that meet their needs more accurately. The process of addressing pain points in consumer awareness is essentially a transformation of the silver haired economy from supply driven to demand driven. Consumers' awareness of quality and smart elderly care is constantly deepening, which will not only activate potential consumer markets, but also force enterprises to further optimize product design, improve service accuracy, and promote the formation of a positive cycle of "demand awakening supply upgrading market expansion" in the silver economy. (New Society)
Edit:Yao jue Responsible editor:Xie Tunan
Source:Securities Daily
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