That requires investing in inclusive ageing across the life course, from education and employment to health, technology and social participation.
The silver economy has an important role to play in making that vision a reality, but it is often misunderstood.
The first level: the second demographic dividend
China, like many countries, has already reaped the first demographic dividend: a large working-age population relative to the young and old which, combined with employment, education, health and more equal gender roles, helped drive economic growth.
The second dividend comes from what that same generation did along the way. They saved. And now, in later life, many are in a position to spend.
This is where demographic metabolism matters. The population is getting older, and in some places smaller, but it is also becoming healthier, better educated, more skilled, more comfortable with technology and, on average, more prosperous. Older people represent a significant and growing market.
Any company that fails to design goods and services for older consumers is making a mistake. The best products, however, will be designed with older people rather than simply for them, because they respond to real needs and aspirations rather than assumptions.
We should also be honest about the limits of this story. It is largely a middle-class story, and inequality among older people remains substantial in China and across much of the region. Not everyone will benefit equally from increased consumption and wealth.
The second level: technology that improves lives
The silver economy is not only about consumption. It is also about products and services that improve lives more broadly and more inclusively.
This is the territory of gerontechnology: robotics, artificial intelligence, connected homes and better communication tools. It is an area of growing research and innovation around the world.
The aim is simple. We want older people, and those who care for them, to remain independent for as long as possible and to age in the place they call home.
Consider one small example. An older person with cognitive impairment may tell the same story many times over. AI-powered conversation tools can absorb some of that repetition and relieve genuine pressure on family carers.
Two conditions matter.
The first is trust: trust in reliability, safety and long-term support.
The second is that technology must supplement human contact, never replace it. Used well, these tools can free carers to spend more meaningful time with the people they support and improve quality of life for both.
The third level: the contribution older people make to society
The third level is where the silver economy becomes truly transformational. It is what we call the third demographic dividend.
This is the contribution older people make to society, much of which never appears in GDP statistics or national accounts.
It includes working longer, part-time employment and mentoring. It includes grandparents caring for grandchildren, older people supporting one another, volunteering, participating in communities and contributing to civic life.
These contributions create value every day, yet they are often overlooked in public policy debates.
Creating a virtuous cycle
This is where the three levels come together.
If we design goods, technologies and services that help people remain healthier, more active and more engaged for longer, we strengthen the third demographic dividend. A healthier and more engaged population can participate longer in the labour market, contribute to communities and maintain economic independence.
In turn, higher participation and higher earnings help strengthen the second demographic dividend through consumption and investment.
Each reinforces the other.
For this vision to succeed, it must be inclusive, and it must begin long before people become old.
Ageing well begins long before old age
Ageing well is a life-course issue.
It means labour markets where nobody feels excluded because of age. It means promoting healthy and active ageing in midlife and earlier, not only in later life. It means reducing poverty at every age, improving access to health services and giving younger generations the strongest possible start in life.
