BEIJING, Nov. 13 (Xinhua) -- Sixty-five-year-old Lyu Xiaowen made full use of this year's "Double 11" online shopping spree. She bought a package tourism product on an e-commerce platform, looking to enjoy an in-depth travel experience in south China's Guangdong Province.
The senior citizen from Luoyang, central China's Henan Province, is adept at online shopping, but this is her first time booking a trip on the internet.
Excited about this fancy experience, Lyu sent a message to her daughter as soon as she made the order: "Look, I followed the fashion this time!"
Lyu is just one of many elderly Chinese who have not been left behind in the digital era. A blue paper from the China Internet Network Information Center shows that nearly 70 percent of netizens aged 60 and above use online shopping services. Elderly internet surfers have become a strong force for online consumption.
"Some old people have become online shopping experts, so to speak, knowing all kinds of discounts, even more than young people," said a staff member surnamed Zhang at an express station in Chanhe District, Luoyang.
By the end of 2023, 21.1 percent of China's population was aged 60 and above. The country's growing elderly population has not only refreshed the e-commerce sector, but also spurred the booming silver economy, which experts see as a new economic growth driver.
During the just-concluded seventh China International Import Expo (CIIE), a variety of products for the elderly, ranging from wooden doors designed for the passage of wheelchairs to medical devices used in non-invasive surgical procedures, have drawn attention from both domestic and foreign consumers and investors.
Notably, the accumulated transaction volume of products concerning elderly care and rehabilitation services at the previous six editions of the CIIE hit 348 million U.S. dollars.
However, this is just the tip of the iceberg. The scale of the silver economy in China stands at approximately 7 trillion yuan (about 972 billion U.S. dollars), accounting for 6 percent of the gross domestic product. It is expected to reach 30 trillion yuan by 2035, according to a research center under the China National Committee on Ageing.
Liu Yue, a research fellow in east China's Zhejiang Province, believes the country's elderly population has -- and will continue to have -- great consumption potential.
People born after the 1950s witnessed China's opening up and accession to the World Trade Organization, Liu said. And when they became adults, they were able to work in a period when China's economy was taking off.
"This means that they have accumulated more wealth and are more open to new things compared to previous generations, and they have more diversified consumption demand," Liu noted.
With the largest elderly population in the world, China has ramped up support for the silver economy. At the start of 2024, the general office of the State Council issued a set of guidelines on developing the silver economy, while a State Council executive meeting held last week once again highlighted efforts in this regard.
"China's huge population and an increasing demand for elderly care also create opportunities for German companies," said Markus Fehr, vice president of the German-Sino Healthcare Group. He expects to seek more cooperation between Germany and China on the silver economy as the two countries are confronted with population aging.
As China's demographic landscape undergoes a pivotal shift, some scholars have noted that the silver economy is a positive aspect of an aging population.
Huang Wei, an associate professor at the National School of Development, Peking University, said that elderly people can continue making "social contributions" by actively participating in economic activities.
"Population aging is just like a double-edged sword. The aging trend has challenges, but also brings opportunities," Huang said in an interview with Xinhua. ■
