The future

Statistics showed that by 2030, the market size of China's elderly education sector could reach 1.2 trillion yuan.

A report by the institute on ageing of Fudan University noted that by 2035, the size of the silver economy will reach 19 trillion yuan, accounting for 28 percent of the total consumption and nearly 10 percent of the GDP.

"The silver economy has vast potential for development," said Qiu, adding that a market size for study tours alone can run up to 2 trillion yuan.

"Hongsong will pioneer a new path in bolstering a healthy and happy life for the elderly," said Li Qiao, noting that they have set up research and development centers in Beijing; Chongqing; Chengdu, Sichuan province; Hangzhou, Zhejiang province; and Wuhan, Hubei province, to enhance the work.

He said Hongsong aimed to leverage the three-day exhibition in Guangzhou to showcase its innovative achievements in the fields of elderly friendly entertainment and smart companionship, conveying the concepts of "technology for the good" and "the benevolent economy for the elderly".

Peng Huamao, a professor at Beijing Normal University and a business partner with Hongsong, said now that the society is sitting on an intersection of population aging and the digital age, "how to better utilize digitalization and make it a powerful tool to enhance the happiness of the silver-haired is what we need to do."

yinmingyue@chinadaily.com.cn