CBN丨Will the “sliver economy” become “the new cool”?

2021年11月25日 17:50   21世纪经济报道 21财经APP   李莹亮,见习记者张然

Hi everyone. I’m Stephanie LI.


Coming up on today’s program.


  • China rolls out more measures to develop a “silver economy;”

  • Tencent is barred from releasing new apps over data breaches.

Here’s what you need to know about China in the past 24 hours 


Population ageing is adding a lot of “grey hair” to policymakers around the world, but what about turning it into a “silver economy?”

China released a guideline yesterday for measures to further implement its national strategy to address population ageing and boost the sense of fulfilment, happiness and safety among the elderly.

The guideline outlines a range of measures to meet the needs of the elderly in a coordinated manner while tackling the issue of population ageingthrough joint efforts from the Party, government and society.

The so-called “silver economy”, which includes services tailored to fit the food, medical, and insurance needs of the elderly, has witnessed a surge in recent years. It is estimated to have reached 5.4 trillion yuan in 2020, with an annual growth of 26 percent. The number is expected to hit 5.9 trillion yuan in 2021. 

According to the latest population census, as of Nov.1, 2020, the elderly population aged 60 and above accounted for 19 percent of China’s population, and is set to exceed 20 percent in the next five years, which will pass the threshold of a “moderately ageing society.”

In addition, the new guideline mentions formulating housing and other support policies to encourage adult children to live nearby or even with their elderly parents. Some experts believe that it may offer a new opportunity for the beleaguered real estate industry amid regulation scrutiny and dipping sales.






Greater Bay Area, Greater Future


  • Hong Kong's government has issued its first ever offshore yuan-denominated green bonds that worth 5 billion yuan. The Hong Kong Monetary Authority said the bonds saw strong demand despite recent market volatility, attracting over 14.2 billion yuan in orders, a 1.8 times oversubscription. 


Update on COVID-19


  • The Chinese mainland reported 4 new local cases yesterday, all from Yunnan. Macao on Wednesday eased travel restrictions on visitors from several places on the mainland. Data show that Macao's hotel occupancy rate went up by about 30 percent compared with the previous day following the move. 


  • Chinese Covid-19 developers Walvax Biotechnology and partner Suzhou Abogen Biosciences will kick off the country’s first clinical trial of using a home-grown mRNA vaccine as a booster shot to protect against the virus. 


Next on industry and company news


  • China will release crude oil from its reserves according to its own actual needs, a spokesperson of the Foreign Ministry said Wednesday, adding that the country is in close communication with oil-producing and oil-consuming countries to ensure a stable oil market. U.S. President Joe Biden announced Tuesday he had ordered the release of 50 million barrels of oil from the U.S. strategic reserves in coordination with China and other Asian nations in a bid to cool prices. 


  • China’s social media giant Tencent was suspended from releasing new mobile applications and updating existing ones without regulators’ approval after allegations that several of its products violated consumer interests. The order is part of “temporary administrative guidance” against Tencent as regulators ramp up scrutiny of the country’s internet sector. 


  • XPeng Motors’ stock price surged after it delivered a record number of cars in the third quarter despite the global chip shortage. Revenue almost tripled to 5.7 billion yuan, while net loss widened to 1.59 billion yuan. The electric car start-up also revealed plans to launch a self-driving robotaxi service in the second half of 2022. 


  • ByteDance is seeking to raise funds for spin off Xingfuli, its Zillow-like real estate listings and deals service, aiming to create an independent business that can tap the booming Chinese market. 


Wrapping up with a quick look at the stock market


  • Chinese stocks closed lower today as the MetaVerse sector lost momentum and related stocks tumbled. The Shanghai Composite lost 0.24 percent, while the Shenzhen Component closed 0.4 percent lower. The Hang Seng Index rallied 1.05 percent, buoyed by stocks in education and tech sectors.


Biz Word of the Day


  • A Robotaxi, also known as a self-driving taxi or a driverless taxi, is an autonomous car (SAE automation level 4 or 5) operated for a ridesharing company.



Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran

Producer: XIANG Xiufang

Sound Editor: ZHANG Ran, Andy YUAN

Graphic Designer: ZHENG Wenjing, LIAO Wanni

Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.

Presented by SFC

编委:  于晓娜







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