Unlocking the huge potential of China’s silver economy

มีนาคม 12, 2026 INTIRA

HONG KONG, Mar 12, 2026 – (ACN Newswire via SeaPRwire.com) – As the average age of the global population continues to rise, the Chinese Mainland is now home to the world’s largest number of seniors. Recognising this, the country’s 15th Five-Year Plan calls for proactive measures to address the challenges of an increasingly ageing population. The silver economy is set to be one of the vital engines for the mainland’s next wave of economic growth.

The Hong Kong Trade Development Council (HKTDC) has released a new consumer survey report, Chinese Mainland Silver Economy Opportunities, that details the strong spending power of the mainland’s affluent, middle-class senior consumers, as well as the vast untapped potential of this particular sector of society. With securing “happiness” and ensuring “quality” as their spending priorities, the survey shows that such consumers regard Hong Kong-made products as guaranteed to be authentic, while the city’s services sector is seen as professional and reliable. As a result, many of these consumers pronounce a willingness to pay a “Hong Kong premium”.

Believing that the continued expansion of the mainland’s silver economy represents significant opportunities for Hong Kong businesses, Bruce Pang, HKTDC Director of Research, said: “Among other priorities, the 15th Five-Year Plan focuses on boosting domestic demand as a means of driving economic growth. Inevitably, this will create opportunities for Hong Kong companies looking to expand into the Chinese Mainland market.

“By gaining a deeper understanding of the consumption patterns of mainland seniors, particularly those in the higher-spending middle-class and affluent segments, Hong Kong businesses will be able to effectively penetrate the domestic market.”

To gain a more in-depth understanding of the development opportunities in the country’s silver economy, HKTDC surveyed more than 2,000 middle-class/affluent senior consumers in various mainland cities last year. The broad cross-section of respondents included those in their 50s starting to plan their retirement, those entering retirement in their 60s, and the older post-retirement population (aged 70 and above). According to the survey’s findings, respondents’ average monthly expenditure on daily consumer goods and services was approximately RMB7,000, rising to RMB8,000 for those in first-tier cities.

Commenting on the findings of the survey, Wing Chu, the HKTDC’s Deputy Director of Research, who led the study, said: “Currently, the Chinese Mainland’s silver economy is valued at about RMB7 trillion – some 6% of overall GDP. This is projected to surge to RMB30 trillion by 2035, indicating the segment’s huge development potential.

“The survey also showed that more than half of such consumers had purchased Hong Kong products or services, consequently holding Hong Kong brands in particularly high regard. It was also notable that 78% of respondents were willing to pay a premium for Hong Kong-sourced products, while 84% were willing to do so in the case of the city’s services sector. Typically, respondents were willing to pay a 16.4% premium on products and 15.4% premium on services, with those in first-tier cities happy to pay an even higher percentage for many types of products and services.”

Hong Kong brands enjoy stellar reputation

Overall, many of the mainland’s senior consumers have a highly positive view of Hong Kong brands, with the city’s products celebrated for their quality and authenticity, and its services for their professionalism and reliability. On the product front, 61% of respondents had purchased Hong Kong products in the past year, including health foods (24%), luxury goods (18%) and beauty and personal care products (17%). In terms of future purchases, respondents expressed the greatest interest in Hong Kong health foods, leisure foods and beverages.

Regarding the city’s services, 54% of senior respondents said they had utilised Hong Kong services in the past year, including beauty and personal care services (25%), travel to Hong Kong, Macao and Taiwan (22%) and financial and wealth management services (20%). Over the next 12 months, the most sought-after Hong Kong services were said to relate to health and wellness services, followed by beauty and personal care services.

Digging deeper into the preferences of such consumers, HKTDC Economist Eric Chu said: “When choosing products and services, happiness is the priority for Chinese Mainland seniors, closely followed by value for money. With this in mind, Hong Kong businesses can leverage the silver economy by capitalising on the strong reputation and professional advantages of the city’s brands.

“Specifically, they should consider expanding into the higher-spending first and second-tier cities, while targeting the younger segment of the senior population. Enhancing the offline experience and fostering word-of-mouth recommendations, alongside optimised promotional efforts, will also help Hong Kong businesses stand out in the mainland’s rapidly growing silver market.”

Silver generation shaping a “blue ocean” of consumption

Taking a more in-depth look at the survey findings, 65% of respondents prioritised products or services that would enhance their leisure or bring them happiness, while 63% valued reasonable pricing and good value for money, and 62% focused more on the practicality and durability of the products or services on offer. Collectively, this indicates that mainland seniors are particularly concerned about their health and quality of life, while also valuing cost-effectiveness and functionality, marking them out as a notably mature and rational consumer group.

In terms of product consumption, 23.3% of respondents most frequently purchased food and beverages, followed by home products (12.6%) and clothing (12.5%). In the case of services, 20.3% utilised body wellness services most often, followed by beauty and personal care services (16.7%) and leisure and entertainment services (13.1%).

In addition, despite the popularity of online shopping across the mainland, the survey showed that physical stores remain the primary consumption channel for the more elderly demographic. For such consumers, offline experiences, in-person consultations and a sense of trust in products and services remain prime considerations.

To help businesses capitalise on opportunities arising from the silver economy market, the HKTDC has incorporated various related elements into many of its exhibitions and forums. This allows relevant companies to showcase their products and technologies, while also giving them the opportunity to explore the latest industry developments through a series of related seminar programmes.

Aligning with this approach, a thematic seminar on healthy ageing was held as part of the Asia Summit on Global Health, while the Rehabilitation and Elderly Care zone at the Hong Kong International Medical and Healthcare Fair featured the latest gerontechnology products. The Hong Kong Electronics Fair (Autumn Edition) also sought to showcase fitness and health products relevant to the senior market.

In addition, the Hong Kong Toys & Games Fair, held in January this year, introduced a new “Happy Ageing” label for silver market products, making it easier for buyers to identify toys and related products designed specifically for older consumers. The Asia Toys & Games Forum, held during the fair, hosted a discussion by a number of international experts on the optimum design of toys for the elderly, while also offering many other insights into the silver-focused toy market.

Looking ahead, the HKTDC will continue to provide comprehensive support to the business sector, enabling enterprises to further explore and develop opportunities in the growing silver economy market.

References

Report link: https://research.hktdc.com/en/article/MjI2ODIyMDg0Nw
HKTDC Research: http://research.hktdc.com/en

Photo download: https://bit.ly/4shpQjO

HKTDC Director of Research Bruce Pang (centre), Deputy Director of Research Wing Chu (left) and Economist Eric Chu (right) presented key findings from the “Chinese Mainland Silver Economy Opportunities” consumer survey report

HKTDC Media Room: http://mediaroom.hktdc.com/en

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About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.