China steps up policy support for silver economy

As China faces a huge challenge in caring for its increasing aging population, the government is ratcheting up policy support to the underdeveloped elderly service industry, hoping the rise of the silver economy will help boost employment and stimulate consumption.

The State Council executive meeting on Wednesday decided to increase the supply of community-based elderly care services, expand market access and guide social forces to widely participate, provide fiscal subsidies for personnel training, and optimize the fiscal expenditure structure in the industry.

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