The latest census numbers out of China have reignited this long-running debate: No doubt China's population is aging, seeing its slowest growth in decades.
China's overall population did continue to grow in 2020, rising to 1.412 billion people, up from 1.4 billion in 2019.
Today, 264 million people, or roughly 18% of China's population, are over 60. For a reference point, this population number is nearly identical to Germany, France, the United Kingdom, and Italy combined.
China's seniors live longer and healthier lives, with demographers predicting that by 2050, seniors will make up a third of China's total population.
This demographic problem of an aging population and falling birth rate will shift more attention and resources to the nation's retirees - think less investment in infrastructure and more money spent on healthcare.
This so-called "gray-haired" economy will reach nearly a trillion dollars this year. From a consumer spending and marketing perspective, look for growing demand from this age cohort from companies providing travel, hospitality, health, education, and e-commerce services.
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