Page 8 - The SouthChina Business Journal
P. 8
PTH requirements for elderly service facilities
and companies operating in silver economy
Meanwhile, the opinions also highlight several industries. Specifically, the opinions propose
sectors within the silver economy, providing a planning the establishment of community elderly
useful snapshot of sectors that are considered to service facilities in newly built residential areas
have high potential. based on a per capita land area of no less
than 0.1 square meters. Idle commercial, office,
The sectors include: industrial, and warehousing spaces will also
receive support to be converted into safe elderly
• Research and design of elderly-friendly clothing service facilities.
fabrics, styles, and assistive devices, development
of functional elderly clothing, footwear, and The opinions also call for strengthening financial
headwear, R&D of health foods and special and fiscal support for the silver economy.
medical formula foods suitable for the chewing,
swallowing, and nutritional needs of the elderly. Notable among the funding proposals is the
call for funding eligible silver economy-related
• Fostering smart healthcare and elderly care projects through local government special purpose
industries, integrating next-generation IT, mobile bonds (SPBs). SPBs are one of the main tools
terminals, wearable devices, and service robots for the central government to transfer funds to
in the home, community, and institutional elderly local governments to invest (mainly) in public
care scenarios and developing intelligent health infrastructure projects. This means that local
management and elderly care supervision products. governments will be encouraged to spend SPBs on
funding elder care-related projects, which will help
• Promoting the rehabilitation and assistive devices to upgrade local elder care services and facilities
industry through means, such as upgrading while providing more options for project funding
traditional devices such as hearing aids, orthopedic for the local governments.
devices, canes, and prosthetics. Other potential
market segments include smart wheelchairs, Financial institutions are also encouraged to
transfer machines, and rehabilitation nursing increase support for the construction of elderly
beds, as well as equipment for cognitive training, service facilities and developing silver economy
incontinence rehabilitation training, medication and industry projects.
care reminders, and sleep disorder interventions.
Finally, the opinions address the long-standing
• Developing the anti-aging industry through issue of fraud committed against elderly people,
efforts such as deepening research on skin aging calling for extensive anti-fraud educational
mechanisms, human aging models, and the health activities for the elderly and a crackdown on
of human hair. various types of fraud schemes, in particular
pension-related scams.
• Developing pension and insurance products
by supporting financial institutions in legally and Tapping into the silver economy in China
compliantly developing pension services, pension
planning, and fund management. Insurance The opinions are not intended to announce
products also include commercial medical specific policies or incentives to develop the
insurance and long-term care insurance. silver economy. Rather, they seek to clarify
and organize the government’s priorities for
• Expanding tourism services for the elderly the industry’s development and inform local
by improving services, such as elderly-friendly governments to formulate and implement
hotels, homestays, and family-friendly facilities, development plans and policies.
encouraging the development of family-friendly
travel products, and developing elderly tourism For companies, they provide an insightful
insurance and encouraging the expansion of summary of the types of products and services
insurance coverage. that will be the focus of government efforts and
funding, and which the government believes
Government support for the have significant potential. In the future, local
silver economy governments may also create specific incentives
for companies to enter the space.
The final part of the opinions focuses on
means for government agencies to guide and Companies operating in or planning to enter China’s
foster the development of the silver economy. elder care industry can, along with conducting their
This section gives the clearest indication of own market research, align business models and
tangible government support for the industry’s offerings with the market segments highlighted in
development, calling for the allocation of the opinions. The aging population in China presents
government funds for various projects, among both challenges and opportunities for businesses,
other support measures. making it imperative for companies to adapt and
thrive in this evolving landscape.
For instance, the opinions propose formulating
land supply plans in order to meet the land
5 AMCHAM SOUTH CHINA
and companies operating in silver economy
Meanwhile, the opinions also highlight several industries. Specifically, the opinions propose
sectors within the silver economy, providing a planning the establishment of community elderly
useful snapshot of sectors that are considered to service facilities in newly built residential areas
have high potential. based on a per capita land area of no less
than 0.1 square meters. Idle commercial, office,
The sectors include: industrial, and warehousing spaces will also
receive support to be converted into safe elderly
• Research and design of elderly-friendly clothing service facilities.
fabrics, styles, and assistive devices, development
of functional elderly clothing, footwear, and The opinions also call for strengthening financial
headwear, R&D of health foods and special and fiscal support for the silver economy.
medical formula foods suitable for the chewing,
swallowing, and nutritional needs of the elderly. Notable among the funding proposals is the
call for funding eligible silver economy-related
• Fostering smart healthcare and elderly care projects through local government special purpose
industries, integrating next-generation IT, mobile bonds (SPBs). SPBs are one of the main tools
terminals, wearable devices, and service robots for the central government to transfer funds to
in the home, community, and institutional elderly local governments to invest (mainly) in public
care scenarios and developing intelligent health infrastructure projects. This means that local
management and elderly care supervision products. governments will be encouraged to spend SPBs on
funding elder care-related projects, which will help
• Promoting the rehabilitation and assistive devices to upgrade local elder care services and facilities
industry through means, such as upgrading while providing more options for project funding
traditional devices such as hearing aids, orthopedic for the local governments.
devices, canes, and prosthetics. Other potential
market segments include smart wheelchairs, Financial institutions are also encouraged to
transfer machines, and rehabilitation nursing increase support for the construction of elderly
beds, as well as equipment for cognitive training, service facilities and developing silver economy
incontinence rehabilitation training, medication and industry projects.
care reminders, and sleep disorder interventions.
Finally, the opinions address the long-standing
• Developing the anti-aging industry through issue of fraud committed against elderly people,
efforts such as deepening research on skin aging calling for extensive anti-fraud educational
mechanisms, human aging models, and the health activities for the elderly and a crackdown on
of human hair. various types of fraud schemes, in particular
pension-related scams.
• Developing pension and insurance products
by supporting financial institutions in legally and Tapping into the silver economy in China
compliantly developing pension services, pension
planning, and fund management. Insurance The opinions are not intended to announce
products also include commercial medical specific policies or incentives to develop the
insurance and long-term care insurance. silver economy. Rather, they seek to clarify
and organize the government’s priorities for
• Expanding tourism services for the elderly the industry’s development and inform local
by improving services, such as elderly-friendly governments to formulate and implement
hotels, homestays, and family-friendly facilities, development plans and policies.
encouraging the development of family-friendly
travel products, and developing elderly tourism For companies, they provide an insightful
insurance and encouraging the expansion of summary of the types of products and services
insurance coverage. that will be the focus of government efforts and
funding, and which the government believes
Government support for the have significant potential. In the future, local
silver economy governments may also create specific incentives
for companies to enter the space.
The final part of the opinions focuses on
means for government agencies to guide and Companies operating in or planning to enter China’s
foster the development of the silver economy. elder care industry can, along with conducting their
This section gives the clearest indication of own market research, align business models and
tangible government support for the industry’s offerings with the market segments highlighted in
development, calling for the allocation of the opinions. The aging population in China presents
government funds for various projects, among both challenges and opportunities for businesses,
other support measures. making it imperative for companies to adapt and
thrive in this evolving landscape.
For instance, the opinions propose formulating
land supply plans in order to meet the land
5 AMCHAM SOUTH CHINA
