China has been running at full tilt to foster a social environment in which senior citizens are respected, cared for and live happily in the span of the 13th Five-Year Plan (2016-2020), given the country's fast-growing aging population. By the end of 2019, China had a population of 254 million aged 60 or above, accounting for 18.1 percent of the national population. The number is expected to exceed 300 million in the next five years, according to the Ministry of Civil Affairs. While the aging population brings pressure to the Chinese society, it also provides great potential for the rise of the silver economy, which may boost employment and stimulate consumption.
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