Henan implements multiple measures to activate new momentum in the silver economy and promotes the transformation of the elderly care industry toward "quality enhancement"

Sourced from: Securities Daily Network

Our reporter Xiao Yanqing

On March 29, the General Office of the Henan Provincial People’s Government issued the “Opinions on Accelerating the High-Quality Development of Civil Affairs in the New Era” (hereinafter referred to as the “Opinions”). Among other things, it clearly sets promoting the development of the senior care industry as a key task, and calls for specific measures from multiple dimensions such as industrial upgrading, technological empowerment, financial support, and integrated business models, to activate new growth momentum for the silver-haired economy and drive the senior care industry to shift from “basic security” to “quality improvement.”

Song Xiangqing, Vice Chairman of the China Society of Commercial Economics, said in an interview with a reporter from Securities Daily that the senior care industry-related policies issued by Henan this time provide a systematic layout for the senior care industry, featuring dual guidance of both safeguarding people’s livelihoods and fostering industry development. They not only align with the rigid needs of a populous province, but also open up new room for growth for the silver-haired economy.

The “Opinions” focus on standardized and large-scale development of the senior care industry, and propose to improve mechanisms for socialized operations and evaluation mechanisms for the implementation of support policies, to move senior care institutions toward professionalization, chain-based operations, large-scale development, and branding.

Technological empowerment is an important lever for the “Opinions” to promote the upgrading and development of the senior care industry. The “Opinions” clearly state that efforts should be made to establish major science and technology projects for senior care services, focusing on R&D and production of products for older adults, cultivating leading enterprises and industrial clusters, and building high-standard senior care industry parks.

Improving the financial support system is a key guarantee for the sustainable development of the senior care industry. The “Opinions” propose establishing a regularized matchmaking mechanism among government, banks, and enterprises for senior care services. On the basis of market-oriented and rule-of-law approaches, it will develop inclusive financial products. It also clarifies that at the provincial and municipal levels, pension care service industry development funds may be established, encouraging and supporting state-owned capital and social capital to actively participate in the development of senior care services.

In terms of integrated business models, the “Opinions” aim to break down industrial barriers and promote in-depth integration between senior care services and fields such as housekeeping services, healthcare, culture, tourism, and sports. It will regularly hold “Senior Care Services Consumption Seasons” activities to cultivate new business models for senior care consumption.

In Song Xiangqing’s view, the policy takes professionalization, chain-based operations, and branding as its direction to improve the supply quality of senior care institutions. By tackling key technologies, building industrial parks, and cultivating leading enterprises, it aims to strengthen the industry of products for older adults and industrial clusters. Meanwhile, by relying on approaches such as industrial funds, government-bank-enterprise matchmaking, and inclusive finance, it helps open up funding channels and guides state-owned capital and social capital to work in coordination. In addition, promoting in-depth integration between senior care and housekeeping services, healthcare, culture and tourism, and sports, as well as carrying out Senior Care Services Consumption Season activities, is conducive to activating senior care consumption, cultivating new business forms and models, and accelerating the establishment of a modern senior care services system that coordinates home, community, and institutions, and combines medical care with wellness and rehabilitation.

With the population aging trend becoming increasingly prominent, the market space for the senior care industry is broad and development potential is huge. As residents’ demand for senior care continues to upgrade and the senior care services system keeps improving, sub-sectors such as age-friendly products, rehabilitation and nursing care, and smart senior care are set to experience rapid growth, with high-quality enterprises in the industry accelerating their market deployment.

Wu Lidong, Securities Affairs Representative of Henan Xiangyu Medical Equipment Co., Ltd., said in an interview with a reporter from Securities Daily that the company’s existing product lines are highly aligned with market demand in the senior care and silver-haired economy segments. The company has formed a solid market foundation and technology accumulation, and several products have successfully been included in qualification recognitions. The company is optimistic about the market scale of the silver-haired economy in the future. It has already developed a clear development plan and intends to advance the construction of a silver-haired economy industrial park, precisely matching policy directions and market demand. It looks forward to the relevant policies being accelerated and implemented, further driving the company’s product market promotion and revenue growth.

Song Xiangqing said that, overall, Henan’s senior care industry is shifting from basic security toward high-quality inclusive development. The implementation of the policies will effectively address weaknesses, improve supply, and promote consumption. It not only enhances well-being for older groups, but also becomes a new growth point for the regional economy.

（Editor: Qiao Chuanchuan）

A wealth of information, precise interpretation—All in the Sina Finance APP