The Chinese government released on January 15, 2024 the Guidelines of the General Office of the State Council on Developing "Silver" Economy to Promote the Wellbeing of Senior Citizens.
The document contains 26 specific measures in four areas. It encourages and guides State-owned enterprises (SOEs) to actively expand business related to the silver economy. For SOEs that develop and introduce industries related to the silver economy, or provide venues and facilities for elderly care service, their inputs would be taken into account in the assessment of their business performance. It plans to establish ten high-standard silver economy industrial parks in areas such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and the Chengdu-Chongqing Economic Zone.
The document pledges greater financial support, including supporting qualified new elderly care service facilities in installing IT-based management systems and promoting the use of intelligent equipment, supporting qualified silver economy industry programs with local government special bonds, and encouraging financial institutions to launch more products for senior citizens and increase support for developing elderly care facilities and programs.