BEIJING, March 1 (Xinhua) — With a burgeoning "silver economy" boosted by a growing number of Chinese seniors, consumption by the age group could contribute about 10 percent of China's gross domestic product (GDP) in 2030, according to a report released on Tuesday.
Calculated at 2010 prices, the total consumption of the elderly population is expected to reach 12-15.5 trillion yuan (about 1.9-2.46 trillion U.S. dollars) in 2030, accounting for 8.3-10.8 percent of the country's GDP, said the report issued by the China Research Center on Aging.
In 2050, the group's total consumption is estimated to soar to 40-69 trillion yuan, making up 12.2-20.7 percent of the country's GDP, it said.
China has 264 million people aged 60 years and above, accounting for 18.7 percent of its 1.4 billion population, according to the seventh population census conducted in 2020.
(Source: Xinhua)
32.3KPlease understand that womenofchina.cn,a non-profit, information-communication website, cannot reach every writer before using articles and images. For copyright issues, please contact us by emailing: [email protected]. The articles published and opinions expressed on this website represent the opinions of writers and are not necessarily shared by womenofchina.cn.
Messi in and Dybala out in Argentina squad for pre
Timberwolves center Rudy Gobert misses Game 2 in Denver
Fraternity removes member for ‘racist actions’ at Ole Miss
Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits
How Queen Mary could look to Queen Silvia: King Carl Gustaf and his wife's 47
Judges ask whether lawmakers could draw up new House map in time for this year's elections
Top clubs urge Brazil's soccer federation to suspend league matches because of flooding
Celebrity birthdays for the week of May 26
Netanyahu uses Holocaust ceremony to brush off international pressure against Gaza offensive
US overdose deaths dropped in 2023, the first time since 2018
Trump faces jail threat over gag order as prosecutors zero in on transactions at heart of the case