Chinese Elderly Consumers to Contribute 10 Percent of GDP by 2030: Report

business2024-05-01 02:09:204

Home
News
- Highlight
- ACWF News
- Society
- Women in Action
People
- Inspiring Women
- Faces in the Crowd
- Newsmakers
In-depth
- Exclusives
- Spotlight
- Family
- Blending in
ACWF
- About the ACWF
- ACWF Leaders
- Functional Departments of the ACWF
- Affiliated Institutions of the ACWF
- Group Members

News / Society

Chinese Elderly Consumers to Contribute 10 Percent of GDP by 2030: Report

　March 2, 2022

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)

32.3K

Please 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. 