Xiao Weiming, Deputy Secretary-General of the National Development and Reform Commission: "During the 15th Five-Year Plan period, the silver hair economy is expected to usher in a major opportunity for vigorous development."

On November 6th, the sub-forum of the Hongqiao International Economic Forum on "Accelerating the Development of Silver Economy and Cultivating New Economic Growth Drivers" was held at the National Exhibition and Convention Center. At the meeting, Xiao Weiming, Deputy Secretary-General of the National Development and Reform Commission, stated that population changes have given rise to the silver economy, and economic transformation requires the silver economy. During the "Fifteenth Five-Year Plan" period, China's aging population entered an accelerated stage, with over 300 million elderly people and their families experiencing continuously escalating demands. The development of new industries and new economies that are in line with demographic changes is becoming increasingly urgent, and there are higher requirements for the scale, structure, and quality of products and services in the silver economy. The silver economy is expected to usher in significant opportunities for vibrant development. We propose three suggestions: First, jointly create a new environment of open cooperation for the silver economy. China is willing to work with countries around the world to address aging populations, expand high-level opening up to the outside world, and continuously expand the circle of friends for developing the silver economy. It is necessary to facilitate international cooperation channels in the silver economy field, build platforms actively promote industry and project matching in the silver economy, fully leverage comparative advantages, deepen practical cooperation, promote more cooperation outcomes in areas such as technological innovation, industrial development, and international trade, and jointly enhance the well-being of the elderly. Second, jointly cultivate new drivers for high-quality development of the silver economy. Seize the opportunities of the new round of technological revolution and industrial transformation to empower high-quality development of the silver economy through technological innovation. Adapting to the trends of digitization and intelligent development, strengthen the application of cutting-edge technologies such as artificial intelligence and big data in the silver economy field, accelerate the development of new products and services, continuously optimize the business environment, strengthen soft connections in terms of personnel, technology, standards, etc., guide outstanding domestic and foreign enterprises to invest in the elderly field, and open up broad development space for the silver economy. Third, jointly explore new pathways to develop the silver economy to meet the needs of the people. Focus on the urgent needs and challenges of the elderly and the weaknesses of industry development, promote the integration of the elderly career with the elderly industry through vigorous development of the silver economy, continuously satisfy the needs of the elderly for a better life.